By otakuyassine3@gmail.com 
Illinois Tool Works (NYSE:ITW – Free Report) had its price target decreased by Citigroup from $279.00 to $265.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.
A number of other equities research analysts have also issued reports on the stock. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Truist Financial raised their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Stifel Nicolaus raised their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, Robert W. Baird boosted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $270.11.
View Our Latest Research Report on Illinois Tool Works
Illinois Tool Works Stock Up 0.4 %
Shares of ITW stock opened at $253.99 on Monday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works has a one year low of $232.77 and a one year high of $279.13. The company’s fifty day moving average price is $265.34 and its 200-day moving average price is $255.30. The company has a market capitalization of $75.00 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 4.22 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $2.55 earnings per share. Sell-side analysts expect that Illinois Tool Works will post 10.13 EPS for the current fiscal year.
Illinois Tool Works Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.
Institutional Trading of Illinois Tool Works
Several hedge funds and other institutional investors have recently bought and sold shares of ITW. True Wealth Design LLC increased its position in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at about $32,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the third quarter worth about $35,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.
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.
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