Illinois Tool Works (NYSE:ITW) Given New $290.00 Price Target at Jefferies Financial Group

Illinois Tool Works (NYSE:ITW) had its target price boosted by Jefferies Financial Group from $255.00 to $290.00 in a research note published on Friday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the industrial products company’s stock.

A number of other equities analysts have also recently weighed in on the company. Stifel Nicolaus upped their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Truist Financial raised their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Barclays raised shares of Illinois Tool Works from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $230.00 to $270.00 in a report on Thursday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $266.30.

Illinois Tool Works Trading Down 0.6 %

Shares of Illinois Tool Works stock opened at $273.53 on Friday. The firm has a market cap of $80.77 billion, a PE ratio of 23.66, a P/E/G ratio of 4.28 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The business’s fifty day moving average is $265.76 and its two-hundred day moving average is $251.50.

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

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.19%. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Institutional Investors Weigh In On Illinois Tool Works

Several large investors have recently added to or reduced their stakes in ITW. Retirement Systems of Alabama grew its position in shares of Illinois Tool Works by 0.5% during the third quarter. Retirement Systems of Alabama now owns 184,289 shares of the industrial products company’s stock worth $48,297,000 after acquiring an additional 948 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in shares of Illinois Tool Works by 128.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company’s stock valued at $6,084,000 after buying an additional 13,062 shares during the last quarter. World Investment Advisors LLC boosted its position in shares of Illinois Tool Works by 6.7% during the third quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company’s stock worth $4,186,000 after buying an additional 1,000 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in Illinois Tool Works by 17.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 89,507 shares of the industrial products company’s stock worth $24,521,000 after buying an additional 13,567 shares in the last quarter. 79.77% of the stock is 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.