Wells Fargo & Company Lowers Illinois Tool Works (NYSE:ITW) Price Target to $245.00

Illinois Tool Works (NYSE:ITW) had its target price dropped by research analysts at Wells Fargo & Company from $270.00 to $245.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 5.18% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $310.00 to $327.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. UBS Group reaffirmed a “neutral” rating and issued a $285.00 target price on shares of Illinois Tool Works in a research report on Wednesday, February 4th. The Goldman Sachs Group restated a “sell” rating and issued a $253.00 price target on shares of Illinois Tool Works in a research note on Tuesday, February 3rd. Citigroup increased their price objective on shares of Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average target price of $271.85.

Illinois Tool Works Price Performance

ITW opened at $258.38 on Wednesday. Illinois Tool Works has a twelve month low of $214.66 and a twelve month high of $303.15. The firm has a 50-day moving average price of $276.64 and a 200-day moving average price of $260.44. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $74.43 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 13.94 and a beta of 1.13.

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

Insider Buying and Selling at Illinois Tool Works

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ITW. Brighton Jones LLC increased its position in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares during the last quarter. Bison Wealth LLC grew its holdings in Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Illinois Tool Works by 20.6% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 177 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Illinois Tool Works by 5.5% in the second quarter. American Century Companies Inc. now owns 63,752 shares of the industrial products company’s stock worth $15,763,000 after buying an additional 3,311 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in Illinois Tool Works during the 2nd quarter valued at $131,000. Institutional investors own 79.77% of the company’s stock.

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.