Illinois Tool Works Inc. (NYSE:ITW) Receives $257.00 Consensus Price Target from Brokerages

Shares of Illinois Tool Works Inc. (NYSE:ITW) have earned a consensus rating of “Reduce” from the nine research firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $257.00.

A number of analysts have commented on ITW shares. Citigroup upped their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Truist Financial assumed coverage on Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Barclays raised their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 2nd. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $248.23 on Friday. The stock’s 50 day moving average is $260.04 and its 200 day moving average is $251.37. Illinois Tool Works has a one year low of $217.06 and a one year high of $271.15. The firm has a market cap of $74.16 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.70 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company earned $2.34 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts expect that Illinois Tool Works will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the sale, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,273,292.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the completion of the sale, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock worth $48,712,316 over the last three months. 0.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITW. Briaud Financial Planning Inc bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Illinois Tool Works in the fourth quarter worth about $26,000. Frazier Financial Advisors LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $26,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter valued at approximately $28,000. Finally, Security National Bank purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.