Illinois Tool Works (NYSE:ITW) Share Price Crosses Above Fifty Day Moving Average of $148.71

Shares of Illinois Tool Works Inc. (NYSE:ITW) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $148.71 and traded as high as $150.45. Illinois Tool Works shares last traded at $149.11, with a volume of 20,348 shares trading hands.

A number of brokerages have recently issued reports on ITW. JPMorgan Chase & Co. reissued a “hold” rating and set a $137.00 price objective on shares of Continental in a research report on Friday, April 26th. Argus boosted their price objective on shares of Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Citigroup set a $221.00 price objective on shares of 3M and gave the company a “buy” rating in a research report on Friday, April 26th. UBS Group set a $133.00 price objective on shares of LHC Group and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Morgan Stanley set a $10.00 price objective on shares of Ford Motor and gave the company a “hold” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $140.53.

The company has a current ratio of 1.53, a quick ratio of 1.19 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $48.97 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. The company has a 50-day moving average of $148.86.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.64 billion. Illinois Tool Works had a net margin of 17.21% and a return on equity of 72.74%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 earnings per share. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 7.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, June 27th. Illinois Tool Works’s dividend payout ratio is currently 52.63%.

In related news, VP Randall J. Scheuneman sold 14,931 shares of Illinois Tool Works stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the sale, the vice president now directly owns 21,603 shares in the company, valued at $3,244,122.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John R. Hartnett sold 14,323 shares of Illinois Tool Works stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total transaction of $2,199,296.65. Following the sale, the executive vice president now owns 31,695 shares in the company, valued at $4,866,767.25. The disclosure for this sale can be found here. 0.87% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Farmers Trust Co. raised its holdings in Illinois Tool Works by 4.0% during the 1st quarter. Farmers Trust Co. now owns 1,808 shares of the industrial products company’s stock worth $260,000 after buying an additional 69 shares during the period. Kaizen Advisory LLC raised its holdings in Illinois Tool Works by 9.5% during the 4th quarter. Kaizen Advisory LLC now owns 819 shares of the industrial products company’s stock worth $104,000 after buying an additional 71 shares during the period. Exeter Financial LLC raised its holdings in Illinois Tool Works by 1.0% during the 1st quarter. Exeter Financial LLC now owns 7,363 shares of the industrial products company’s stock worth $1,057,000 after buying an additional 71 shares during the period. Valeo Financial Advisors LLC raised its holdings in Illinois Tool Works by 11.8% during the 1st quarter. Valeo Financial Advisors LLC now owns 713 shares of the industrial products company’s stock worth $102,000 after buying an additional 75 shares during the period. Finally, ETF Managers Group LLC raised its holdings in Illinois Tool Works by 8.9% during the 1st quarter. ETF Managers Group LLC now owns 926 shares of the industrial products company’s stock worth $133,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 77.46% of the company’s stock.

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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