Illinois Tool Works (ITW) Price Target Cut to $140.00


Illinois Tool Works (NYSE:ITW) had its price target cut by BMO Capital Markets from $145.00 to $140.00 in a report published on Monday, February 25th. They currently have a market perform rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on ITW. Credit Suisse Group restated a hold rating and issued a $124.00 target price on shares of Illinois Tool Works in a report on Tuesday, January 22nd. ValuEngine upgraded shares of Illinois Tool Works from a sell rating to a hold rating in a report on Tuesday, November 13th. Deutsche Bank set a $133.00 target price on shares of Illinois Tool Works and gave the company a hold rating in a report on Monday, December 10th. JPMorgan Chase & Co. cut shares of Illinois Tool Works from a neutral rating to an underweight rating and set a $120.00 target price for the company. in a report on Thursday, January 10th. Finally, Morgan Stanley downgraded shares of Illinois Tool Works from an equal weight rating to an underweight rating and reduced their price target for the company from $131.00 to $115.00 in a research report on Tuesday, December 18th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $136.60.

NYSE ITW traded down $4.82 on Monday, hitting $141.65. 1,570,140 shares of the stock were exchanged, compared to its average volume of 1,489,894. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 1.85. Illinois Tool Works has a fifty-two week low of $117.75 and a fifty-two week high of $164.03. The stock has a market capitalization of $48.06 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, February 1st. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the previous year, the business posted $1.70 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts expect that Illinois Tool Works will post 7.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $4.00 dividend on an annualized basis and a yield of 2.82%. Illinois Tool Works’s payout ratio is currently 52.63%.

In other news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.79, for a total transaction of $6,349,737.66. Following the transaction, the insider now directly owns 71,927 shares of the company’s stock, valued at approximately $10,486,237.33. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John R. Hartnett sold 14,500 shares of the company’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $137.00, for a total transaction of $1,986,500.00. Following the transaction, the executive vice president now directly owns 29,448 shares in the company, valued at $4,034,376. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,970 shares of company stock valued at $18,348,472. 0.82% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Pearl River Capital LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $25,000. Rational Advisors LLC grew its stake in Illinois Tool Works by 1,492.3% in the 4th quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 194 shares during the last quarter. Focused Wealth Management Inc acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $38,000. Athena Capital Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $41,000. Finally, Berman Capital Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $43,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Company Profile

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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Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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