Illinois Tool Works Inc. (NYSE:ITW) Given Consensus Recommendation of “Hold” by Brokerages

Posted by on May 6th, 2023

Shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) have received an average recommendation of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $228.21.

ITW has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $240.00 to $236.00 in a report on Wednesday. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $222.00 to $255.00 in a research note on Thursday, February 2nd. Barclays reduced their target price on shares of Illinois Tool Works from $205.00 to $203.00 in a research report on Wednesday. Morgan Stanley upped their price target on shares of Illinois Tool Works from $174.00 to $223.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 7th. Finally, Citigroup upped their price target on shares of Illinois Tool Works from $232.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, February 3rd.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Creative Capital Management Investments LLC boosted its position in shares of Illinois Tool Works by 145.2% in the first quarter. Creative Capital Management Investments LLC now owns 103 shares of the industrial products company’s stock worth $25,000 after buying an additional 61 shares during the period. Sturgeon Ventures LLP acquired a new stake in Illinois Tool Works during the first quarter worth about $26,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $33,000. Red Tortoise LLC bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Standard Family Office LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth $39,000. Institutional investors own 79.83% of the company’s stock.

Illinois Tool Works Trading Up 1.4 %

Shares of NYSE ITW opened at $230.31 on Friday. The stock has a market cap of $70.20 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 3.53 and a beta of 1.10. Illinois Tool Works has a twelve month low of $173.52 and a twelve month high of $253.37. The company’s fifty day moving average is $234.07 and its 200-day moving average is $227.78. The company has a quick ratio of 0.95, a current ratio of 1.20 and a debt-to-equity ratio of 1.78.

Illinois Tool Works (NYSE:ITW – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.10. Illinois Tool Works had a net margin of 19.27% and a return on equity of 92.13%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the prior year, the business earned $2.11 EPS. Illinois Tool Works’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that Illinois Tool Works will post 9.57 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Stockholders of record on Friday, June 30th will be given a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 2.28%. Illinois Tool Works’s payout ratio is 52.40%.

Illinois Tool Works Company Profile

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.

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Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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