Illinois Tool Works raises dividend for 46th consecutive year
Dividend Aristocrat Illinois Tool Works will increase its quarterly dividend to $0.78 per share, marking 46 consecutive years of higher dividend payments.
The dividend equates to $3.12 per share on a full-year basis. The dividend will be paid on Oct. 10, 2017 to shareholders of record as of Sept. 29, 2017.
Based on the current stock price of $142.92 the new dividend yield for ITW is 2.2%. The stock has gained 16.7 percent so far in 2017, translating into a market cap of $48.9 billion for the industrial company.
|Illinois Tool Works trades close to its June 20th all time high of $150.29 (click for bigger chart)|
Brokerages overwhelmingly recommend ITW: 9 out of 17 analysts rate it “buy” or higher, 8 “hold” and 0 “sell”. The average analyst price target currently is $152.70 (upside of 6.4%).
Illinois Tool Works Inc. is a manufacturer of industrial products and equipment. ITW is a Fortune 200 global multi-industrial manufacturing company with revenues totaling $13.6 billion in 2016. The Company operates through seven segments: Automotive OEM, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products and Specialty Products.