Illinois Tool Works (ITW) Given “Hold” Rating at Credit Suisse Group

Credit Suisse Group restated their hold rating on shares of Illinois Tool Works (NYSE:ITW) in a research note published on Friday morning. The firm currently has a $131.00 target price on the industrial products company’s stock.

ITW has been the subject of several other reports. Seaport Global Securities lowered shares of Illinois Tool Works from a buy rating to a neutral rating and reduced their target price for the stock from $170.00 to $132.00 in a report on Thursday, October 25th. ValuEngine lowered shares of Illinois Tool Works from a hold rating to a sell rating in a report on Thursday, October 11th. Zacks Investment Research raised shares of Illinois Tool Works from a sell rating to a hold rating in a report on Tuesday, September 25th. Wells Fargo & Co set a $145.00 target price on shares of Illinois Tool Works and gave the stock a buy rating in a report on Thursday, October 25th. Finally, Citigroup set a $148.00 target price on shares of Illinois Tool Works and gave the stock a buy rating in a report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $147.69.

Shares of NYSE:ITW traded down $3.79 during trading on Friday, hitting $129.47. The company’s stock had a trading volume of 2,326,331 shares, compared to its average volume of 1,467,390. Illinois Tool Works has a 12 month low of $119.38 and a 12 month high of $179.07. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $44.22 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.28.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.02. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business earned $1.71 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Analysts expect that Illinois Tool Works will post 7.6 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Monday, December 31st will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 60.70%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Illinois Tool Works by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 25,617,374 shares of the industrial products company’s stock valued at $3,615,123,000 after buying an additional 317,172 shares in the last quarter. BlackRock Inc. grew its holdings in Illinois Tool Works by 2.5% during the 3rd quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock valued at $3,004,489,000 after buying an additional 528,550 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Illinois Tool Works by 25.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock valued at $975,518,000 after buying an additional 1,401,794 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Illinois Tool Works by 1.6% in the second quarter. Bank of America Corp DE now owns 5,875,087 shares of the industrial products company’s stock valued at $813,935,000 after purchasing an additional 93,269 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Illinois Tool Works by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock valued at $825,423,000 after purchasing an additional 274,579 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

About Illinois Tool Works

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.

Featured Story: Inflation

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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

Leave a Reply