Barclays Has Lowered Expectations for Illinois Tool Works (NYSE:ITW) Stock Price

Illinois Tool Works (NYSE:ITW) had its target price lowered by Barclays from $270.00 to $265.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Several other research analysts have also weighed in on ITW. Jefferies Financial Group boosted their price target 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. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus increased their price target on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $268.00.

Illinois Tool Works Trading Down 0.4 %

NYSE:ITW opened at $247.66 on Wednesday. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $279.13. The business’s 50-day moving average price is $266.54 and its two-hundred day moving average price is $254.90. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $73.13 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the business posted $2.55 EPS. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts expect that Illinois Tool Works will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is 51.90%.

Institutional Investors Weigh In On Illinois Tool Works

Several hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Fairscale Capital LLC purchased a new stake in Illinois Tool Works in the 2nd quarter worth approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter worth approximately $32,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. raised its position in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

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.