Illinois Tool Works (NYSE:ITW) Price Target Raised to $268.00

Illinois Tool Works (NYSE:ITW) had its price target increased by Deutsche Bank Aktiengesellschaft from $265.00 to $268.00 in a research note issued to investors on Thursday,MarketScreener reports. They currently have a hold rating on the industrial products company’s stock.

Several other brokerages also recently issued reports on ITW. Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Saturday, September 27th. UBS Group upped their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Citigroup upped their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Finally, Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price for the company. in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average target price of $261.58.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $260.19 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The business has a 50 day moving average of $261.43 and a two-hundred day moving average of $251.01. Illinois Tool Works has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a market cap of $75.85 billion, a P/E ratio of 22.80, a PEG ratio of 5.61 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.Illinois Tool Works’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts anticipate that Illinois Tool Works will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is currently 56.44%.

Insider Activity

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Illinois Tool Works

Several large investors have recently added to or reduced their stakes in ITW. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works during the 2nd quarter valued at $25,000. von Borstel & Associates Inc. acquired a new stake in Illinois Tool Works during the 1st quarter valued at $26,000. SOA Wealth Advisors LLC. raised its stake in Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Saudi Central Bank acquired a new stake in Illinois Tool Works during the 1st quarter valued at $29,000. Finally, 1248 Management LLC acquired a new stake in Illinois Tool Works during the 1st quarter valued at $30,000. 79.77% of the stock is owned by institutional investors and hedge funds.

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.