Illinois Tool Works (NYSE:ITW) Hits New 1-Year High – Here’s Why

Illinois Tool Works Inc. (NYSE:ITW)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $277.94 and last traded at $276.53, with a volume of 212473 shares traded. The stock had previously closed at $273.95.

Wall Street Analyst Weigh In

ITW has been the subject of several analyst reports. Robert W. Baird raised 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. Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their target price on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Stock Performance

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a fifty day simple moving average of $263.53 and a two-hundred day simple moving average of $250.39. The stock has a market capitalization of $81.51 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 4.28 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $2.55 EPS. Analysts forecast that Illinois Tool Works Inc. will post 10.13 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 Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Institutional Trading of Illinois Tool Works

Several large investors have recently made changes to their positions in the company. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the 2nd quarter valued at about $30,000. Fairscale Capital LLC acquired a new position in Illinois Tool Works during the 2nd quarter valued at about $30,000. True Wealth Design LLC boosted its stake in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter valued at about $32,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the 3rd quarter valued at about $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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.