Illinois Tool Works Inc. (NYSE:ITW) Stock Has Average Price Target of $276.33

Shares of Illinois Tool Works Inc. (NYSE:ITW) have earned an average rating of “Reduce” from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $276.33.

ITW has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Wolfe Research reaffirmed an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. Weiss Ratings raised Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 28th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $270.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, October 27th. Finally, UBS Group set a $277.00 target price on shares of Illinois Tool Works in a report on Friday, October 9th.

Illinois Tool Works Stock Down 1.2%

Shares of Illinois Tool Works stock opened at $286.71 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.94 and a debt-to-equity ratio of 2.28. Illinois Tool Works has a 12-month low of $238.82 and a 12-month high of $303.15. The company’s fifty day simple moving average is $271.62 and its two-hundred day simple moving average is $271.00. The company has a market cap of $81.48 billion, a P/E ratio of 25.85, a PEG ratio of 3.18 and a beta of 0.92.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.03. Illinois Tool Works had a return on equity of 103.35% and a net margin of 19.39%. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the previous year, the firm posted $2.81 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Research analysts anticipate that Illinois Tool Works will post 11.49 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, December 31st. Illinois Tool Works’s payout ratio is 61.32%.

Insider Buying and Selling

In related news, CAO Matteo Pigozzo sold 277 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the sale, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ernest Santi sold 41,431 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the transaction, the director owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This trade represents a 13.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ITW. JFS Wealth Advisors LLC lifted its position in shares of Illinois Tool Works by 21.5% in the second quarter. JFS Wealth Advisors LLC now owns 226 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 40 shares in the last quarter. Summit Wealth Group LLC Co. increased its position in shares of Illinois Tool Works by 3.4% during the third quarter. Summit Wealth Group LLC Co. now owns 1,311 shares of the industrial products company’s stock worth $337,000 after purchasing an additional 43 shares in the last quarter. Cushing Capital Partners LLC increased its position in shares of Illinois Tool Works by 1.6% during the third quarter. Cushing Capital Partners LLC now owns 2,939 shares of the industrial products company’s stock worth $756,000 after purchasing an additional 46 shares in the last quarter. MCF Advisors LLC raised its stake in Illinois Tool Works by 2.1% in the 2nd quarter. MCF Advisors LLC now owns 2,281 shares of the industrial products company’s stock valued at $620,000 after purchasing an additional 48 shares during the last quarter. Finally, Lodestone Wealth Management LLC raised its stake in Illinois Tool Works by 42.1% in the 3rd quarter. Lodestone Wealth Management LLC now owns 162 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW’s operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.