Illinois Tool Works’ (ITW) “Buy” Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Illinois Tool Works Inc. (NYSE:ITW) in a research report report published on Friday. Jefferies Group LLC currently has a $145.00 target price on the stock.
Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Illinois Tool Works from a hold rating to a buy rating and set a $138.00 target price for the company in a report on Thursday, January 19th. Stifel Nicolaus boosted their target price on Illinois Tool Works from $123.00 to $135.00 and gave the stock a buy rating in a report on Monday, December 5th. Barclays PLC reiterated a hold rating and set a $122.00 target price on shares of Illinois Tool Works in a report on Wednesday, January 18th. Royal Bank of Canada reiterated a hold rating and set a $125.00 target price on shares of Illinois Tool Works in a report on Friday, January 13th. Finally, Goldman Sachs Group Inc cut Illinois Tool Works from a buy rating to a neutral rating and set a $123.00 target price for the company. in a report on Monday, November 21st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $123.38.
Shares of Illinois Tool Works (NYSE:ITW) traded up 0.15% during mid-day trading on Friday, reaching $135.71. 438,628 shares of the company traded hands. The company has a market capitalization of $47.03 billion, a P/E ratio of 23.81 and a beta of 1.01. Illinois Tool Works has a 52-week low of $98.32 and a 52-week high of $136.03. The firm’s 50 day moving average price is $130.96 and its 200-day moving average price is $123.36.
Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, January 25th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.02. Illinois Tool Works had a return on equity of 41.90% and a net margin of 14.96%. The business earned $3.39 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that Illinois Tool Works will post $6.17 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 11th. Shareholders of record on Friday, March 31st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Wednesday, March 29th. Illinois Tool Works’s dividend payout ratio is presently 45.61%.
In other news, insider Sundaram Nagarajan sold 4,554 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $133.28, for a total transaction of $606,957.12. Following the completion of the transaction, the insider now directly owns 28,401 shares in the company, valued at approximately $3,785,285.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lei Zhang Schlitz sold 33,629 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $129.49, for a total value of $4,354,619.21. Following the transaction, the insider now owns 16,299 shares of the company’s stock, valued at $2,110,557.51. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ITW. Dubuque Bank & Trust Co. boosted its position in Illinois Tool Works by 43.5% in the third quarter. Dubuque Bank & Trust Co. now owns 890 shares of the company’s stock valued at $107,000 after buying an additional 270 shares during the period. M&R Capital Management Inc. boosted its position in Illinois Tool Works by 4.2% in the fourth quarter. M&R Capital Management Inc. now owns 947 shares of the company’s stock valued at $115,000 after buying an additional 38 shares during the period. Hudock Capital Group LLC boosted its position in Illinois Tool Works by 0.5% in the third quarter. Hudock Capital Group LLC now owns 1,042 shares of the company’s stock valued at $124,000 after buying an additional 5 shares during the period. Taylor Wealth Management Partners boosted its position in Illinois Tool Works by 26.5% in the third quarter. Taylor Wealth Management Partners now owns 1,075 shares of the company’s stock valued at $129,000 after buying an additional 225 shares during the period. Finally, Edmond de Rothschild Europe acquired a new position in Illinois Tool Works during the third quarter valued at approximately $131,000. Institutional investors own 74.80% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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