Illinois Tool Works Inc. (ITW) Receives “Hold” Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their hold rating on shares of Illinois Tool Works Inc. (NYSE:ITW) in a research report sent to investors on Friday morning. The brokerage currently has a $143.00 target price on the industrial products company’s stock.

Several other equities research analysts have also issued reports on ITW. Wells Fargo & Company set a $170.00 price target on Illinois Tool Works and gave the company a buy rating in a report on Monday, October 16th. They noted that the move was a valuation call. Morgan Stanley reiterated an equal weight rating and set a $147.00 price target (up from $136.00) on shares of Illinois Tool Works in a report on Monday, October 2nd. Zacks Investment Research upgraded Illinois Tool Works from a hold rating to a buy rating and set a $163.00 price target for the company in a report on Wednesday, July 12th. J P Morgan Chase & Co upgraded Illinois Tool Works from an underweight rating to a neutral rating and lifted their price target for the company from $132.00 to $140.00 in a report on Tuesday, October 10th. Finally, Jefferies Group LLC reiterated a buy rating and set a $170.00 price target (up from $155.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $153.87.

Illinois Tool Works (NYSE ITW) traded up 1.01% during mid-day trading on Friday, reaching $155.03. 1,477,840 shares of the company were exchanged. The stock’s 50-day moving average is $147.56 and its 200-day moving average is $142.11. The company has a market cap of $53.35 billion, a P/E ratio of 25.09 and a beta of 1.12. Illinois Tool Works has a 12 month low of $111.50 and a 12 month high of $155.12.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 EPS. Equities analysts expect that Illinois Tool Works will post $6.46 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, September 28th. Illinois Tool Works’s payout ratio is 50.49%.

In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Omnia Family Wealth LLC increased its position in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares during the period. Hudock Capital Group LLC increased its position in Illinois Tool Works by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock worth $151,000 after buying an additional 5 shares during the period. Laurel Wealth Advisors Inc. increased its position in Illinois Tool Works by 0.3% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,638 shares of the industrial products company’s stock worth $521,000 after buying an additional 10 shares during the period. Washington Trust Bank increased its position in Illinois Tool Works by 1.1% in the 2nd quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after buying an additional 11 shares during the period. Finally, Rowland & Co. Investment Counsel ADV increased its position in Illinois Tool Works by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,607 shares of the industrial products company’s stock worth $518,000 after buying an additional 13 shares during the period. 74.76% of the stock is currently owned by institutional investors.

About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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