Illinois Tool Works (NYSE:ITW) Price Target Raised to $295.00

Illinois Tool Works (NYSE:ITW) had its price target lifted by Wolfe Research from $276.00 to $295.00 in a report published on Friday,MarketScreener reports. Wolfe Research currently has an underperform rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Wednesday, January 28th. Barclays upped their price objective on Illinois Tool Works from $244.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Truist Financial raised their price objective on Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. Evercore dropped their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $274.38.

Illinois Tool Works Trading Down 0.1%

ITW opened at $290.08 on Friday. The stock has a market capitalization of $83.60 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 15.56 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.07. Illinois Tool Works has a twelve month low of $214.66 and a twelve month high of $303.15. The company has a 50-day simple moving average of $269.75 and a 200 day simple moving average of $259.64.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.69 by $0.03. Illinois Tool Works had a net margin of 19.11% and a return on equity of 95.16%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.07 billion. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.54 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. Analysts predict that Illinois Tool Works will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 31st will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 61.39%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, EVP Axel Beck sold 4,223 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the completion of the sale, the executive vice president owned 5,789 shares of the company’s stock, valued at approximately $1,680,083.58. This represents a 42.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 167,345 shares of Illinois Tool Works stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the transaction, the director directly owned 258,766 shares of the company’s stock, valued at $75,282,792.38. This represents a 39.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Illinois Tool Works

A number of hedge funds have recently added to or reduced their stakes in ITW. AE Wealth Management LLC grew its holdings in shares of Illinois Tool Works by 128.4% during the third quarter. AE Wealth Management LLC now owns 9,128 shares of the industrial products company’s stock valued at $2,380,000 after buying an additional 5,131 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in Illinois Tool Works by 10.4% during the 3rd quarter. Mediolanum International Funds Ltd now owns 103,161 shares of the industrial products company’s stock valued at $26,964,000 after purchasing an additional 9,738 shares during the last quarter. Brendel Financial Advisors LLC increased its holdings in Illinois Tool Works by 1,328.6% during the 3rd quarter. Brendel Financial Advisors LLC now owns 13,929 shares of the industrial products company’s stock worth $3,632,000 after purchasing an additional 12,954 shares in the last quarter. Madison Asset Management LLC raised its stake in shares of Illinois Tool Works by 411.8% in the third quarter. Madison Asset Management LLC now owns 87,875 shares of the industrial products company’s stock worth $22,914,000 after purchasing an additional 70,704 shares during the last quarter. Finally, Davis Capital Management bought a new position in shares of Illinois Tool Works in the third quarter valued at approximately $1,162,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.