Brokerages Set Illinois Tool Works Inc. (NYSE:ITW) Price Target at $271.00

Shares of Illinois Tool Works Inc. (NYSE:ITW) have earned an average rating of “Hold” from the eleven brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $269.30.

Several research analysts have recently weighed in on ITW shares. Evercore ISI decreased their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group lifted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Citigroup reduced their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a report on Wednesday.

Institutional Investors Weigh In On Illinois Tool Works

Several institutional investors and hedge funds have recently made changes to their positions in the company. Prudent Man Investment Management Inc. bought a new stake in Illinois Tool Works during the fourth quarter valued at $25,000. Redwood Park Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $26,000. Glass Jacobson Investment Advisors llc grew its position in shares of Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after buying an additional 84 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works during the fourth quarter worth about $28,000. Finally, True Wealth Design LLC lifted its holdings in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 0.5 %

NYSE:ITW opened at $265.42 on Friday. The business’s 50-day moving average is $257.23 and its two-hundred day moving average is $258.12. The firm has a market capitalization of $77.90 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 4.49 and a beta of 1.11. Illinois Tool Works has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Research analysts predict that Illinois Tool Works will post 10.41 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.26%. Illinois Tool Works’s payout ratio is 51.19%.

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.