Illinois Tool Works Inc. (NYSE:ITW) Receives $269.10 Average Target Price from Brokerages

Shares of Illinois Tool Works Inc. (NYSE:ITW) have been assigned an average rating of “Hold” from the eleven research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $269.10.

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group boosted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Barclays set a $260.00 target price on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a report on Monday, March 10th.

Insider Buying and Selling

In related news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,925 shares of company stock valued at $42,973,845. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Illinois Tool Works

Several hedge funds have recently bought and sold shares of ITW. Baron Wealth Management LLC increased its position in Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 39 shares during the last quarter. Sigma Planning Corp increased its position in Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 41 shares during the last quarter. Harbour Investments Inc. increased its position in Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares during the last quarter. F M Investments LLC increased its position in Illinois Tool Works by 4.9% in the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 42 shares during the last quarter. Finally, TrinityPoint Wealth LLC increased its position in Illinois Tool Works by 1.0% in the 3rd quarter. TrinityPoint Wealth LLC now owns 4,208 shares of the industrial products company’s stock worth $1,103,000 after purchasing an additional 43 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.7 %

Illinois Tool Works stock opened at $256.17 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a 50-day moving average price of $257.95 and a two-hundred day moving average price of $260.47. The firm has a market capitalization of $75.19 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works has a 52-week low of $232.77 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Sell-side analysts expect that Illinois Tool Works will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

Illinois Tool Works Company Profile

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.