Illinois Tool Works Inc. (NYSE:ITW) Sees Large Increase in Short Interest

Illinois Tool Works Inc. (NYSE:ITW) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 6,120,000 shares, a growth of 8.5% from the December 15th total of 5,640,000 shares. Based on an average daily trading volume, of 845,800 shares, the short-interest ratio is presently 7.2 days. Approximately 2.1% of the shares of the stock are sold short.

Illinois Tool Works Trading Up 0.2 %

Illinois Tool Works stock traded up $0.57 during midday trading on Monday, reaching $256.50. The stock had a trading volume of 844,760 shares, compared to its average volume of 768,759. Illinois Tool Works has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a market capitalization of $75.74 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock’s 50-day simple moving average is $264.26 and its 200 day simple moving average is $255.73.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Robert W. Baird raised their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Barclays lowered their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Citigroup lowered their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $270.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $28,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works during the second quarter worth about $30,000. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the third quarter worth about $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

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.