Illinois Tool Works’ (ITW) “Hold” Rating Reiterated at Robert W. Baird

Robert W. Baird reaffirmed their hold rating on shares of Illinois Tool Works (NYSE:ITW) in a research note released on Sunday morning. Robert W. Baird currently has a $160.00 target price on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company set a $190.00 target price on shares of Illinois Tool Works and gave the stock a buy rating in a research note on Monday. Morgan Stanley reaffirmed an equal weight rating and set a $147.00 target price (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. Stifel Nicolaus reaffirmed a hold rating and set a $147.00 target price on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Royal Bank Of Canada reaffirmed a hold rating and set a $143.00 target price on shares of Illinois Tool Works in a research note on Wednesday, September 13th. Finally, J P Morgan Chase & Co raised shares of Illinois Tool Works from an underweight rating to a neutral rating and lifted their target price for the stock from $132.00 to $140.00 in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $161.67.

Illinois Tool Works (ITW) opened at $165.02 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. The firm has a market cap of $56,946.80, a PE ratio of 26.38, a PEG ratio of 2.48 and a beta of 1.18. Illinois Tool Works has a 52 week low of $120.06 and a 52 week high of $169.69.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the firm earned $1.50 earnings per share. Illinois Tool Works’s quarterly revenue was up 3.4% compared to the same quarter last year. research analysts anticipate that Illinois Tool Works will post 6.69 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is presently 47.78%.

In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $155.00, for a total transaction of $1,012,615.00. Following the completion of the sale, the insider now directly owns 18,622 shares in the company, valued at $2,886,410. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the sale, the insider now owns 95,328 shares of the company’s stock, valued at $14,984,608.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,506 shares of company stock valued at $19,801,832. Company insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Illinois Tool Works by 11.7% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,087 shares of the industrial products company’s stock valued at $939,000 after purchasing an additional 740 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Illinois Tool Works by 32.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,963 shares of the industrial products company’s stock valued at $1,585,000 after purchasing an additional 2,943 shares in the last quarter. Azimuth Capital Management LLC grew its holdings in shares of Illinois Tool Works by 1.3% in the first quarter. Azimuth Capital Management LLC now owns 11,945 shares of the industrial products company’s stock valued at $1,582,000 after purchasing an additional 157 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Illinois Tool Works by 7.1% in the first quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock valued at $408,069,000 after purchasing an additional 203,294 shares in the last quarter. Finally, RiverPoint Capital Management LLC grew its holdings in shares of Illinois Tool Works by 5.3% in the first quarter. RiverPoint Capital Management LLC now owns 6,500 shares of the industrial products company’s stock valued at $861,000 after purchasing an additional 327 shares in the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Illinois Tool Works’ (ITW) “Hold” Rating Reiterated at Robert W. Baird” was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://stocknewstimes.com/2017/12/06/illinois-tool-works-itw-hold-rating-reiterated-at-robert-w-baird.html.

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)

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

Latest News

Leave a Reply