The stock of Illinois Tool Works Inc. (NYSE:ITW) last traded at $220.43, down -1.48% from the previous session.
Data from the available sources indicates that Illinois Tool Works Inc. (NYSE:ITW) is covered by 24 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $243.00 and a low of $171.00, we find $213.00. Given the previous closing price of $223.74, this indicates a potential downside of -4.8 percent. ITW stock price is now 1.40% away from the 50-day moving average and 8.19% away from the 200-day moving average. The market capitalization of the company currently stands at $67.17B.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
Sponsored
In total, 16 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $211.42 as their price target over the next twelve months.
On August 15, 2022, Deutsche Bank Downgraded its previous ‘Hold’ rating to ‘Sell’ on the stock keeping its target price maintained at $188, while ‘UBS’ rates the stock as ‘Neutral’.
In other news, SMITH DAVID BYRON JR, Director bought 1,390 shares of the company’s stock on Dec 09. The stock was bought for $308,316 at an average price of $221.81. Upon completion of the transaction, the Director now directly owns 118,994 shares in the company, valued at $26.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 14, SVP & CFO Larsen Michael M sold 51,248 shares of the business’s stock. A total of $11,685,056 was realized by selling the stock at an average price of $228.01. This leaves the insider owning 36,602 shares of the company worth $8.07 million. Insiders disposed of 229,979 shares of company stock worth roughly $50.69 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ITW stock. A new stake in Illinois Tool Works Inc. shares was purchased by FARMER STEVEN PATRICK during the first quarter worth $62,277,000. SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC invested $28,095,000 in shares of ITW during the first quarter. In the first quarter, SQUAREPOINT OPS LLC acquired a new stake in Illinois Tool Works Inc. valued at approximately $20,000,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in ITW for approximately $18,103,000. INTERVAL PARTNERS, LP purchased a new stake in ITW valued at around $13,612,000 in the second quarter. In total, there are 1,888 active investors with 82.60% ownership of the company’s stock.
With an opening price of $224.50 on Wednesday morning, Illinois Tool Works Inc. (NYSE: ITW) set off the trading day. During the past 12 months, Illinois Tool Works Inc. has had a low of $173.52 and a high of $249.81. As of last week, the company has a debt-to-equity ratio of 2.53, a current ratio of 1.40, and a quick ratio of 1.00. The fifty day moving average price for ITW is $217.39 and a two-hundred day moving average price translates $203.74 for the stock.
The latest earnings results from Illinois Tool Works Inc. (NYSE: ITW) was released for Sep, 2022. According to the Specialty Industrial Machinery Company, earnings per share came in at $2.35, beating analysts’ expectations of $2.25 by 0.1. This compares to $2.02 EPS in the same period last year. The net profit margin was 17.50% and return on equity was 80.50% for ITW. The company reported revenue of $4.01 billion for the quarter, compared to $3.56 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.8 percent. For the current quarter, analysts expect ITW to generate $3.87B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/12/2023. Investors who held shares on 12/30/2022 were paid a $1.31 dividend. On an annualized basis, this represents a $5.24 dividend and a 2.38% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend. In terms of dividend payout ratio, ITW is presently at 55.50%.
Illinois Tool Works Inc.(ITW) Company Profile
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. The Food Equipment segment provides warewashing, refrigeration, cooking, and food processing equipment; kitchen exhaust, ventilation, and pollution control systems; and food equipment maintenance and repair services. The Test & Measurement and Electronics segment produces and sells equipment, consumables, and related software for testing and measuring of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics. The Welding segment produces arc welding equipment; and metal arc welding consumables and related accessories. The Polymers & Fluids segment produces adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance. The Construction Products segment offers engineered fastening systems and solutions for the residential construction, renovation/remodel, and commercial construction markets. The Specialty Products segment offers beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners. It serves the automotive OEM/tiers, commercial food equipment, construction, general industrial, and automotive aftermarket end markets. The company distributes its products directly to industrial manufacturers, as well as through independent distributors. Illinois Tool Works Inc. was founded in 1912 and is based in Glenview, Illinois.
