Illinois Tool Works (NYSE:ITW) Price Target Raised to $310.00

Illinois Tool Works (NYSE:ITW) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $295.00 to $310.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 14.29% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday. Wolfe Research reiterated an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a research note on Thursday, April 30th. Truist Financial boosted their price target on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company upped their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $274.00.

Illinois Tool Works Stock Up 0.9%

Shares of ITW stock traded up $2.43 during trading hours on Monday, hitting $271.24. 310,542 shares of the company’s stock traded hands, compared to its average volume of 1,409,313. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The stock has a market cap of $78.04 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 4.62 and a beta of 1.00. The stock’s fifty day simple moving average is $258.05 and its two-hundred day simple moving average is $265.32. Illinois Tool Works has a 12-month low of $238.82 and a 12-month high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, analysts expect that Illinois Tool Works will post 11.37 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jennifer F. Scanlon purchased 806 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after acquiring an additional 277 shares in the last quarter. Bison Wealth LLC grew its position in shares of Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after purchasing an additional 81 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Illinois Tool Works by 20.6% during 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 in the last quarter. Sei Investments Co. raised its stake in Illinois Tool Works by 22.0% during the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock valued at $26,401,000 after purchasing an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in Illinois Tool Works by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after purchasing an additional 2,890 shares in the last quarter. 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.