Stifel Nicolaus Analysts Give Illinois Tool Works (NYSE:ITW) a $143.00 Price Target

Stifel Nicolaus set a $143.00 price target on Illinois Tool Works (NYSE:ITW) in a research report sent to investors on Wednesday, TipRanks reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. Credit Suisse Group upped their price target on Illinois Tool Works from $124.00 to $152.00 and gave the company a market perform rating in a research report on Monday, July 29th. UBS Group upped their price target on Illinois Tool Works from $150.00 to $154.00 and gave the company a neutral rating in a research report on Monday, July 29th. Northcoast Research lowered Illinois Tool Works from a neutral rating to a sell rating and set a $121.00 price target on the stock. in a research report on Wednesday, June 26th. Zacks Investment Research lowered Illinois Tool Works from a hold rating to a sell rating and set a $154.00 price target on the stock. in a research report on Tuesday, July 9th. Finally, Goldman Sachs Group lowered Illinois Tool Works from a neutral rating to a sell rating and set a $144.00 price target on the stock. in a research report on Monday, September 23rd. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Illinois Tool Works presently has an average rating of Hold and a consensus target price of $141.75.

NYSE:ITW opened at $154.53 on Wednesday. The firm has a market capitalization of $49.99 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.63 and a beta of 1.22. Illinois Tool Works has a 1-year low of $117.75 and a 1-year high of $161.71. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52. The business’s fifty day moving average price is $152.22 and its 200 day moving average price is $151.04.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.03. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.73 billion. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. Illinois Tool Works’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.97 earnings per share. Equities analysts forecast that Illinois Tool Works will post 7.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th were paid a $1.07 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $4.28 dividend on an annualized basis and a yield of 2.77%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. Illinois Tool Works’s payout ratio is 56.32%.

In other Illinois Tool Works news, EVP Juan Valls sold 64,894 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $160.51, for a total value of $10,416,135.94. Following the transaction, the executive vice president now owns 67,047 shares in the company, valued at $10,761,713.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven L. Martindale sold 48,622 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total value of $7,579,197.36. Following the completion of the transaction, the executive vice president now owns 84,546 shares in the company, valued at approximately $13,179,030.48. The disclosure for this sale can be found here. Insiders sold 158,458 shares of company stock worth $25,172,163 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ITW. Hexavest Inc. bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $26,000. Asset Dedication LLC boosted its stake in shares of Illinois Tool Works by 105.3% during the 2nd quarter. Asset Dedication LLC now owns 195 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Weaver Consulting Group bought a new stake in shares of Illinois Tool Works during the 1st quarter worth about $32,000. Golden State Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 75.4% during the 2nd quarter. Golden State Wealth Management LLC now owns 307 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 132 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Illinois Tool Works by 25.1% during the 3rd quarter. Allworth Financial LP now owns 349 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 77.46% of the company’s stock.

About Illinois Tool Works

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.

Further Reading: What are benefits of a growth and income fund?

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit