Illinois Tool Works Inc. Declares Quarterly Dividend of $1.50 (NYSE:ITW)

Illinois Tool Works Inc. (NYSE:ITW) declared a quarterly dividend on Friday, February 14th,RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 1.50 per share by the industrial products company on Thursday, April 10th. This represents a $6.00 annualized dividend and a yield of 2.33%.

Illinois Tool Works has raised its dividend payment by an average of 7.1% per year over the last three years and has increased its dividend annually for the last 55 consecutive years. Illinois Tool Works has a dividend payout ratio of 53.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Illinois Tool Works to earn $11.24 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 53.4%.

Illinois Tool Works Stock Down 0.8 %

Shares of NYSE:ITW opened at $257.98 on Friday. The firm has a market capitalization of $76.18 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. Illinois Tool Works has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. The firm’s 50-day moving average is $258.13 and its two-hundred day moving average is $257.65.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts predict that Illinois Tool Works will post 10.38 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on ITW. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $271.00.

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.