Somewhat Favorable News Coverage Somewhat Unlikely to Affect Illinois Tool Works (ITW) Share Price
News headlines about Illinois Tool Works (NYSE:ITW) have trended somewhat positive recently, according to Accern Sentiment. Accern rates the sentiment of press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Illinois Tool Works earned a coverage optimism score of 0.25 on Accern’s scale. Accern also gave media stories about the industrial products company an impact score of 47.3988434568673 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the media stories that may have effected Accern’s scoring:
- Bert’s Recent Stock Buys – Illinois Tool Works And WestRock Co. (seekingalpha.com)
- Illinois Tool Works Inc. (ITW) Receives Average Rating of “Hold” from Brokerages (americanbankingnews.com)
- Dividend Aristocrat Analysis Of Illinois Tool Works, Inc. (seekingalpha.com)
- Lanny’s Recent Stock Purchase – Bed Bath & Beyond, WestRock Co. And Illinois Tool Works (seekingalpha.com)
- Illinois Tool Works Inc. (ITW) Expected to Announce Quarterly Sales of $3.73 Billion (americanbankingnews.com)
Illinois Tool Works stock opened at $139.43 on Friday. Illinois Tool Works has a 12-month low of $134.66 and a 12-month high of $179.07. The stock has a market cap of $45.77 billion, a P/E ratio of 21.16, a PEG ratio of 1.75 and a beta of 1.25. The company has a quick ratio of 1.35, a current ratio of 1.73 and a debt-to-equity ratio of 1.60.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 9th. Shareholders of record on Friday, September 28th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, September 27th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.78. Illinois Tool Works’s dividend payout ratio (DPR) is 47.34%.
Illinois Tool Works declared that its Board of Directors has authorized a stock buyback program on Friday, August 3rd that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have recently commented on ITW shares. Bank of America cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $147.00 target price for the company. in a research report on Tuesday, July 24th. Goldman Sachs Group cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $145.00 target price for the company. in a research report on Monday, July 23rd. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $162.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 27th. Credit Suisse Group reduced their target price on shares of Illinois Tool Works from $166.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday, July 24th. Finally, MED cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Thursday, July 12th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $159.82.
In related news, Director Richard H. Lenny bought 1,778 shares of the stock in a transaction on Friday, July 27th. The stock was bought at an average price of $140.85 per share, with a total value of $250,431.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.
Illinois Tool Works 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.
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