Illinois Tool Works (NYSE:ITW) Stock Price Down 2.1%

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Illinois Tool Works Inc. (NYSE:ITW) fell 2.1% during trading on Friday . The stock traded as low as $147.24 and last traded at $148.85. 27,337 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 1,343,687 shares. The stock had previously closed at $151.98.

Several research firms have recently commented on ITW. Citigroup set a $161.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research note on Friday, April 26th. Argus lifted their target price on Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. Morgan Stanley set a $134.00 target price on Illinois Tool Works and gave the company a “sell” rating in a research note on Friday, April 26th. Finally, UBS Group lifted their target price on Illinois Tool Works from $137.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $142.59.

The company has a quick ratio of 1.19, a current ratio of 1.53 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $48.89 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 2.46 and a beta of 1.24.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.01. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the company earned $1.90 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. Equities analysts forecast that Illinois Tool Works Inc. will post 7.94 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $4.00 annualized dividend and a dividend yield of 2.68%. Illinois Tool Works’s dividend payout ratio is currently 52.63%.

In other Illinois Tool Works news, VP Randall J. Scheuneman sold 14,931 shares of Illinois Tool Works stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the transaction, the vice president now directly owns 21,603 shares in the company, valued at $3,244,122.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John R. Hartnett sold 14,323 shares of Illinois Tool Works stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $153.55, for a total value of $2,199,296.65. Following the transaction, the executive vice president now owns 31,695 shares in the company, valued at $4,866,767.25. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Brick & Kyle Associates lifted its holdings in shares of Illinois Tool Works by 1.0% in the first quarter. Brick & Kyle Associates now owns 19,098 shares of the industrial products company’s stock valued at $2,741,000 after purchasing an additional 193 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $481,000. Meridian Wealth Management LLC bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $59,000. GYL Financial Synergies LLC bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $1,513,000. Finally, Lowe Brockenbrough & Co. Inc. lifted its holdings in shares of Illinois Tool Works by 7.8% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 14,818 shares of the industrial products company’s stock valued at $2,127,000 after purchasing an additional 1,072 shares in the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.

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About Illinois Tool Works (NYSE:ITW)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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