Illinois Tool Works (NYSE:ITW) had its target price increased by Stifel Nicolaus from $176.00 to $186.00 in a research note published on Tuesday morning, MarketBeat.com reports. The firm currently has a hold rating on the industrial products company’s stock.
A number of other research firms also recently weighed in on ITW. Zacks Investment Research upgraded shares of Illinois Tool Works from a hold rating to a buy rating and set a $189.00 price target on the stock in a research note on Friday, January 12th. Bank of America assumed coverage on shares of Illinois Tool Works in a research note on Monday, December 11th. They issued a buy rating and a $190.00 price target on the stock. BMO Capital Markets downgraded shares of Illinois Tool Works from an outperform rating to a market perform rating and set a $180.00 price target on the stock. in a research note on Thursday, January 4th. They noted that the move was a valuation call. Royal Bank of Canada restated a hold rating and issued a $166.00 price target on shares of Illinois Tool Works in a research note on Tuesday, December 5th. Finally, Robert W. Baird restated a hold rating and issued a $160.00 price target on shares of Illinois Tool Works in a research note on Sunday, December 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Illinois Tool Works has an average rating of Hold and a consensus price target of $168.25.
Shares of Illinois Tool Works (NYSE:ITW) traded up $2.10 during trading on Tuesday, reaching $172.42. 1,234,196 shares of the company’s stock were exchanged, compared to its average volume of 1,200,000. The firm has a market capitalization of $59,070.00, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. Illinois Tool Works has a 12-month low of $122.61 and a 12-month high of $172.64.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 29th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.12 annualized dividend and a yield of 1.81%. Illinois Tool Works’s dividend payout ratio is presently 47.85%.
In other Illinois Tool Works news, VP Norman D. Jr. Finch bought 4,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the transaction, the vice president now directly owns 4,371 shares in the company, valued at $683,362.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Harold B. Smith sold 30,000 shares of Illinois Tool Works stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $166.43, for a total transaction of $4,992,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,258 shares of company stock worth $33,653,349. 0.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in ITW. Beach Investment Management LLC. bought a new position in Illinois Tool Works during the 2nd quarter worth approximately $1,073,000. Sigma Planning Corp raised its holdings in Illinois Tool Works by 10.6% during the 2nd quarter. Sigma Planning Corp now owns 4,072 shares of the industrial products company’s stock worth $583,000 after purchasing an additional 390 shares during the last quarter. IFC Holdings Incorporated FL raised its holdings in Illinois Tool Works by 2.7% during the 2nd quarter. IFC Holdings Incorporated FL now owns 1,945 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 51 shares during the last quarter. Wedbush Securities Inc. raised its holdings in Illinois Tool Works by 41.0% during the 2nd quarter. Wedbush Securities Inc. now owns 3,825 shares of the industrial products company’s stock worth $548,000 after purchasing an additional 1,112 shares during the last quarter. Finally, Dupont Capital Management Corp raised its holdings in Illinois Tool Works by 20.0% during the 2nd quarter. Dupont Capital Management Corp now owns 13,086 shares of the industrial products company’s stock worth $1,875,000 after purchasing an additional 2,183 shares during the last quarter. Hedge funds and other institutional investors own 74.73% of the company’s stock.
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Illinois Tool Works Company Profile
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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