Illinois Tool Works (NYSE:ITW) Reaches New 12-Month Low After Analyst Downgrade

Illinois Tool Works Inc. (NYSE:ITW – Get Rating) hit a new 52-week low during mid-day trading on Monday after Stifel Nicolaus lowered their price target on the stock from $242.00 to $202.00. Stifel Nicolaus currently has a hold rating on the stock. Illinois Tool Works traded as low as $195.58 and last traded at $195.78, with a volume of 8320 shares trading hands. The stock had previously closed at $196.27.

Other analysts have also issued reports about the stock. Barclays reduced their price objective on shares of Illinois Tool Works from $209.00 to $200.00 and set an “underweight” rating for the company in a research note on Monday, April 4th. StockNews.com began coverage on shares of Illinois Tool Works in a research note on Thursday, March 31st. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Illinois Tool Works from $236.00 to $226.00 and set a “hold” rating for the company in a research note on Thursday. JPMorgan Chase & Co. upgraded shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $262.00 to $255.00 in a research note on Monday, March 28th. Finally, Morgan Stanley reduced their price target on shares of Illinois Tool Works from $210.00 to $197.00 and set an “underweight” rating for the company in a research note on Thursday, April 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $235.50.

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 148,789 shares of Illinois Tool Works stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $231.44, for a total transaction of $34,435,726.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.78% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ITW. Fisher Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 42.6% in the third quarter. Fisher Asset Management LLC now owns 2,492 shares of the industrial products company’s stock worth $515,000 after buying an additional 744 shares in the last quarter. Signaturefd LLC increased its position in Illinois Tool Works by 2.4% in the third quarter. Signaturefd LLC now owns 4,555 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 108 shares during the last quarter. Sigma Planning Corp increased its stake in Illinois Tool Works by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 8,741 shares of the industrial products company’s stock worth $1,806,000 after buying an additional 226 shares during the period. Good Life Advisors LLC grew its holdings in Illinois Tool Works by 79.3% during the 3rd quarter. Good Life Advisors LLC now owns 1,931 shares of the industrial products company’s stock worth $399,000 after acquiring an additional 854 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Illinois Tool Works by 3.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 173,356 shares of the industrial products company’s stock worth $35,820,000 after acquiring an additional 5,508 shares in the last quarter. 76.91% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.35 and a current ratio of 1.84. The company’s fifty day simple moving average is $211.22 and its 200-day simple moving average is $226.34. The company has a market capitalization of $61.07 billion, a P/E ratio of 23.06, a PEG ratio of 2.20 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. Illinois Tool Works had a net margin of 18.64% and a return on equity of 74.43%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the business earned $2.11 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 9.11 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, March 30th. Illinois Tool Works’s dividend payout ratio is currently 57.34%.

Illinois Tool Works Company Profile (NYSE:ITW)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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