Illinois Tool Works Inc. (NYSE:ITW) Receives Average Recommendation of “Reduce” from Analysts

Illinois Tool Works Inc. (NYSE:ITW) has received an average recommendation of “Reduce” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $261.5833.

Several analysts recently issued reports on ITW shares. Barclays raised their price target on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Truist Financial reduced their price target on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. Robert W. Baird set a $265.00 price objective on shares of Illinois Tool Works in a research report on Monday, October 27th. Finally, The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a research report on Monday, October 27th.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the transaction, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Illinois Tool Works

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Illinois Tool Works in the 2nd quarter worth $821,888,000. Massachusetts Financial Services Co. MA raised its position in Illinois Tool Works by 12.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock worth $938,822,000 after acquiring an additional 415,982 shares in the last quarter. Laurel Wealth Advisors LLC lifted its holdings in Illinois Tool Works by 24,625.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 343,431 shares of the industrial products company’s stock valued at $84,913,000 after acquiring an additional 342,042 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Illinois Tool Works by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after purchasing an additional 335,955 shares in the last quarter. Finally, Caisse de depot et placement du Quebec grew its stake in shares of Illinois Tool Works by 293.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 424,547 shares of the industrial products company’s stock worth $110,705,000 after purchasing an additional 316,512 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 2.7%

Illinois Tool Works stock opened at $253.35 on Thursday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works has a 1 year low of $214.66 and a 1 year high of $278.13. The firm’s 50-day moving average is $247.95 and its 200-day moving average is $253.32. The company has a market cap of $73.50 billion, a P/E ratio of 24.57, a PEG ratio of 10.98 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the business earned $3.91 earnings per share. Illinois Tool Works’s quarterly revenue was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities analysts expect that Illinois Tool Works will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

About Illinois Tool Works

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.