Evercore ISI Issues Pessimistic Forecast for Illinois Tool Works (NYSE:ITW) Stock Price

Illinois Tool Works (NYSE:ITW) had its price objective decreased by Evercore ISI from $255.00 to $252.00 in a research report report published on Wednesday,Benzinga reports. Evercore ISI currently has an underperform rating on the industrial products company’s stock.

Other analysts have also issued reports about the company. Stifel Nicolaus cut their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Truist Financial raised their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $269.30.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $264.04 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works has a 1 year low of $232.77 and a 1 year high of $279.13. The business has a fifty day simple moving average of $257.39 and a 200 day simple moving average of $258.07. The firm has a market cap of $77.97 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 4.42 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Hedge Funds Weigh In On Illinois Tool Works

Large investors have recently added to or reduced their stakes in the company. Pensionfund Sabic raised its holdings in Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. raised its holdings in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after acquiring an additional 398,676 shares in the last quarter. Clark & Stuart Inc acquired a new position in Illinois Tool Works in the 4th quarter valued at approximately $1,729,000. Czech National Bank grew its stake in shares of Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after purchasing an additional 3,227 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter valued at approximately $1,179,000. Institutional investors and hedge funds 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.