Illinois Tool Works, Inc. (NYSE: ITW)’s stock price has gone decline by -0.62 in comparison to its previous close of 259.29, however, the company has experienced a -1.57% decrease in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-11 that GLENVIEW, Ill., April 11, 2024 (GLOBE NEWSWIRE) — Illinois Tool Works Inc. (NYSE: ITW) will issue its first quarter 2024 results on Tuesday, April 30, 2024 at 7:00 a.m. CDT. Following the release, ITW will hold its first quarter 2024 earnings webcast at 9:00 a.m. CDT.
Is It Worth Investing in Illinois Tool Works, Inc. (NYSE: ITW) Right Now?
The price-to-earnings ratio for Illinois Tool Works, Inc. (NYSE: ITW) is 26.46x, which is above its average ratio. Moreover, the 36-month beta value for ITW is 1.14. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 4 as “overweight,” 10 as “hold,” and 0 as “sell.”
The public float for ITW is 297.79M and currently, short sellers hold a 2.39% of that float. On April 12, 2024, ITW’s average trading volume was 1.29M shares.
ITW’s Market Performance
ITW stock saw a decrease of -1.57% in the past week, with a monthly decline of -1.98% and a quarterly a decrease of 1.46%. The volatility ratio for the week is 1.29%, and the volatility levels for the last 30 days are 1.24% for Illinois Tool Works, Inc. (ITW). The simple moving average for the last 20 days is -2.82% for ITW’s stock, with a simple moving average of 3.79% for the last 200 days.
Analysts’ Opinion of ITW
Many brokerage firms have already submitted their reports for ITW stocks, with Truist repeating the rating for ITW by listing it as a “Buy.” The predicted price for ITW in the upcoming period, according to Truist is $301 based on the research report published on March 14, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see ITW reach a price target of $240, previously predicting the price at $277. The rating they have provided for ITW stocks is “Underweight” according to the report published on February 06th, 2024.
BofA Securities gave a rating of “Underperform” to ITW, setting the target price at $235 in the report published on January 10th of the current year.
ITW Trading at -1.29% from the 50-Day Moving Average
After a stumble in the market that brought ITW to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -4.97% of loss for the given period.
Volatility was left at 1.24%, however, over the last 30 days, the volatility rate increased by 1.29%, as shares sank -1.90% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.06% lower at present.
During the last 5 trading sessions, ITW fell by -1.57%, which changed the moving average for the period of 200-days by +5.06% in comparison to the 20-day moving average, which settled at $264.92. In addition, Illinois Tool Works, Inc. saw -1.63% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ITW starting from Larsen Michael M, who sale 37,167 shares at the price of $265.06 back on Mar 14 ’24. After this action, Larsen Michael M now owns 46,404 shares of Illinois Tool Works, Inc., valued at $9,851,485 using the latest closing price.
Lawler Mary Katherine, the SVP & Chief HR Officer of Illinois Tool Works, Inc., sale 11,647 shares at $262.40 during a trade that took place back on Feb 28 ’24, which means that Lawler Mary Katherine is holding 25,562 shares at $3,056,173 based on the most recent closing price.
Stock Fundamentals for ITW
Current profitability levels for the company are sitting at:
- 0.25 for the present operating margin
- 0.42 for the gross margin
The net margin for Illinois Tool Works, Inc. stands at 0.18. The total capital return value is set at 0.37. Equity return is now at value 96.95, with 19.11 for asset returns.
Based on Illinois Tool Works, Inc. (ITW), the company’s capital structure generated 0.74 points at debt to capital in total, while cash flow to debt ratio is standing at 0.42. The debt to equity ratio resting at 2.78. The interest coverage ratio of the stock is 15.19.
Currently, EBITDA for the company is 4.52 billion with net debt to EBITDA at 1.71. When we switch over and look at the enterprise to sales, we see a ratio of 5.23. The receivables turnover for the company is 4.95for trailing twelve months and the total asset turnover is 1.04. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.33.
Conclusion
To wrap up, the performance of Illinois Tool Works, Inc. (ITW) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
