Illinois Tool Works (ITW) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Illinois Tool Works (NYSE:ITW) from a hold rating to a buy rating in a report issued on Monday.

Several other research analysts have also issued reports on the company. BMO Capital Markets raised their price target on Illinois Tool Works to $180.00 and gave the stock an outperform rating in a research report on Wednesday, December 6th. Zacks Investment Research upgraded Illinois Tool Works from a hold rating to a buy rating and set a $186.00 price target on the stock in a research report on Thursday, January 4th. Royal Bank of Canada restated a hold rating and issued a $166.00 price target on shares of Illinois Tool Works in a research report on Tuesday, December 5th. Bank of America assumed coverage on Illinois Tool Works in a research note on Monday, December 11th. They set a buy rating and a $190.00 price objective on the stock. Finally, Wells Fargo set a $190.00 price objective on Illinois Tool Works and gave the stock a buy rating in a research note on Monday, December 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $177.18.

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NYSE:ITW opened at $158.72 on Monday. Illinois Tool Works has a 12-month low of $130.17 and a 12-month high of $179.07. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38. The firm has a market capitalization of $53,974.46, a PE ratio of 23.91, a P/E/G ratio of 2.03 and a beta of 1.24.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the company earned $1.39 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. analysts forecast that Illinois Tool Works will post 7.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio is 47.34%.

In other Illinois Tool Works news, insider Sundaram Nagarajan sold 18,650 shares of Illinois Tool Works stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the sale, the insider now owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITW. Commerzbank Aktiengesellschaft FI raised its stake in shares of Illinois Tool Works by 277.6% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 24,522 shares of the industrial products company’s stock valued at $3,628,000 after purchasing an additional 18,028 shares during the period. BB&T Investment Services Inc. raised its stake in shares of Illinois Tool Works by 25.6% in the 3rd quarter. BB&T Investment Services Inc. now owns 12,492 shares of the industrial products company’s stock valued at $1,860,000 after purchasing an additional 2,547 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Illinois Tool Works by 18.8% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 3,280 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 520 shares during the period. Synovus Financial Corp raised its stake in shares of Illinois Tool Works by 22.7% in the 3rd quarter. Synovus Financial Corp now owns 3,136 shares of the industrial products company’s stock valued at $465,000 after purchasing an additional 581 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Illinois Tool Works by 2.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 75,605 shares of the industrial products company’s stock valued at $11,234,000 after purchasing an additional 1,500 shares during the period. 77.63% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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