Goldman Sachs Resumes Coverage on Illinois Tool Works at “Neutral” (ITW)

On Thursday, analysts at Goldman Sachs resumed coverage on industrial products maker Illinois Tool Works Inc. (ITW) with a tepid rating due to its slow growth profile.

The analysts rate ITW as “Neutral” with a price target of $65. This target suggests a 3% upside to Wednesday’s closing price of $63.16.

The analysts also state that they believe the company’s margin expansion will come after 2014. As such, they believe the Wall Street consensus EPS estimates for 2013 and 2014 are too high.

Illinois Tool Works shares were down 26 cents, or -0.41%, during morning trading on Thursday. The stock is up +10.1% over the past year.

The Bottom Line
Shares of Illinois Tool Works (ITW) have a dividend yield of 2.42% based on Thursday’s intraday trading price of $62.93 and the company’s annualized dividend payout of $1.52 per share.

Illinois Tool Works Inc. (ITW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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