Illinois Tool Works (NYSE:ITW) Price Target Raised to $268.00

Illinois Tool Works (NYSE:ITW) had its price target boosted by Stifel Nicolaus from $262.00 to $268.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Several other brokerages have also recently commented on ITW. Robert W. Baird increased their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Barclays upgraded shares of Illinois Tool Works from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $230.00 to $270.00 in a report on Thursday, December 5th. Citigroup increased their price target on shares of Illinois Tool Works from $266.00 to $279.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Finally, Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $267.90.

Illinois Tool Works Trading Down 0.4 %

NYSE ITW opened at $272.06 on Wednesday. The stock has a market capitalization of $80.34 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 4.23 and a beta of 1.10. Illinois Tool Works has a 52 week low of $232.77 and a 52 week high of $279.13. The stock’s 50 day moving average price is $267.20 and its two-hundred day moving average price is $252.68. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Illinois Tool Works will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.21%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Institutional Investors Weigh In On Illinois Tool Works

Institutional investors have recently made changes to their positions in the company. Diversified Trust Co acquired a new position in Illinois Tool Works in the 2nd quarter valued at $343,000. ORG Partners LLC increased its position in Illinois Tool Works by 606.1% during the second quarter. ORG Partners LLC now owns 1,504 shares of the industrial products company’s stock worth $352,000 after acquiring an additional 1,291 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Illinois Tool Works by 4.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 38,545 shares of the industrial products company’s stock worth $9,134,000 after purchasing an additional 1,624 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in Illinois Tool Works by 52.5% in the 2nd quarter. 180 Wealth Advisors LLC now owns 1,310 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 451 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $214,000. Institutional investors own 79.77% of the company’s stock.

About Illinois Tool Works

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.