Illinois Tool Works Inc. (NYSE:ITW) shares reached a new 52-week low during trading on Thursday . The company traded as low as $126.68 and last traded at $129.28, with a volume of 139311 shares traded. The stock had previously closed at $132.01.
A number of research analysts have commented on the company. Robert W. Baird decreased their price target on Illinois Tool Works from $155.00 to $141.00 and set a “hold” rating on the stock in a research note on Tuesday, July 24th. MED cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Thursday, July 12th. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price target on the stock in a research note on Wednesday, June 27th. Citigroup set a $166.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a research note on Tuesday, July 24th. Finally, ValuEngine upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. Illinois Tool Works has a consensus rating of “Hold” and an average price target of $158.94.
The company has a market cap of $47.33 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.81 and a beta of 1.22. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.73 and a quick ratio of 1.35.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, July 23rd. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.97. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Illinois Tool Works had a return on equity of 56.74% and a net margin of 12.70%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.69 earnings per share. Research analysts expect that Illinois Tool Works Inc. will post 7.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 9th. Investors of record on Friday, September 28th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Thursday, September 27th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.78. Illinois Tool Works’s dividend payout ratio is 60.70%.
Illinois Tool Works declared that its board has approved a stock repurchase plan on Friday, August 3rd that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Illinois Tool Works news, Director Richard H. Lenny bought 1,778 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were purchased at an average price of $140.85 per share, with a total value of $250,431.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.
Large investors have recently bought and sold shares of the stock. CX Institutional purchased a new position in shares of Illinois Tool Works during the second quarter worth about $101,000. Kaizen Advisory LLC grew its holdings in shares of Illinois Tool Works by 151.0% during the second quarter. Kaizen Advisory LLC now owns 748 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 450 shares during the last quarter. Sun Life Financial INC grew its holdings in shares of Illinois Tool Works by 277.2% during the second quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 607 shares during the last quarter. Fort L.P. purchased a new position in shares of Illinois Tool Works during the second quarter worth about $117,000. Finally, FTB Advisors Inc. grew its holdings in shares of Illinois Tool Works by 95.0% during the second quarter. FTB Advisors Inc. now owns 936 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 456 shares during the last quarter. 76.09% of the stock is currently owned by hedge funds and other institutional investors.
About Illinois Tool Works (NYSE:ITW)
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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