Analysts Set Illinois Tool Works Inc. (NYSE:ITW) PT at $250.22

Shares of Illinois Tool Works Inc. (NYSE:ITW) have been given a consensus rating of “Hold” by the ten analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $250.22.

Several equities analysts recently commented on ITW shares. Barclays dropped their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Friday, September 13th. JPMorgan Chase & Co. boosted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Evercore ISI lowered their target price on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $254.32 on Tuesday. Illinois Tool Works has a 12 month low of $217.50 and a 12 month high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The business’s 50 day simple moving average is $246.24 and its 200 day simple moving average is $248.22. The company has a market cap of $75.89 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 3.93 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business earned $2.41 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts forecast that Illinois Tool Works will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PEAK6 Investments LLC increased its stake in Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 140 shares during the last quarter. GSA Capital Partners LLP bought a new position in Illinois Tool Works in the first quarter valued at $1,147,000. Norden Group LLC increased its stake in Illinois Tool Works by 1,889.1% in the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after acquiring an additional 25,144 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Illinois Tool Works by 6.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock valued at $55,821,000 after acquiring an additional 12,065 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Illinois Tool Works by 78.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after acquiring an additional 16,216 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.