Illinois Tool Works (NYSE:ITW) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Illinois Tool Works (NYSE:ITW) had its price target hoisted by Robert W. Baird from $240.00 to $250.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased 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. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Barclays lowered their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $254.90.

Illinois Tool Works Stock Performance

NYSE ITW traded up $2.07 on Thursday, hitting $263.20. 164,153 shares of the stock traded hands, compared to its average volume of 1,061,538. The business’s fifty day moving average is $255.27 and its two-hundred day moving average is $247.37. Illinois Tool Works has a 12 month low of $225.88 and a 12 month high of $271.15. The firm has a market capitalization of $78.14 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 4.21 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.92 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for 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 business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.55 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works will post 10.16 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ITW. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works in the second quarter worth about $30,000. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works in the second quarter worth about $30,000. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works in the third quarter worth about $32,000. Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works in the third quarter worth about $35,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

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.