Illinois Tool Works Inc. (NYSE:ITW) Receives $259.25 Consensus PT from Analysts

Shares of Illinois Tool Works Inc. (NYSE:ITW) have been assigned an average rating of “Reduce” from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $259.6667.

ITW has been the topic of several research reports. Wells Fargo & Company boosted their target price on Illinois Tool Works from $245.00 to $250.00 and gave the company an “underweight” rating in a research note on Wednesday. Barclays increased their price target on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $220.00 to $255.00 in a research note on Tuesday, November 18th. Truist Financial lowered their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Finally, Evercore ISI cut 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 research note on Monday, November 17th.

Insider Activity at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the transaction, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors and hedge funds have recently made changes to their positions in ITW. Vanguard Group Inc. grew its holdings in Illinois Tool Works by 1.3% in 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 buying an additional 335,955 shares in the last quarter. State Street Corp boosted its position in shares of Illinois Tool Works by 0.9% in the second quarter. State Street Corp now owns 12,476,310 shares of the industrial products company’s stock valued at $3,103,167,000 after acquiring an additional 108,919 shares during the period. Geode Capital Management LLC grew its stake in shares of Illinois Tool Works by 1.9% in the second quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock valued at $1,670,246,000 after acquiring an additional 122,990 shares in the last quarter. Capital Research Global Investors raised its stake in Illinois Tool Works by 3.0% in the 3rd quarter. Capital Research Global Investors now owns 4,493,555 shares of the industrial products company’s stock worth $1,171,740,000 after purchasing an additional 131,702 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Illinois Tool Works by 12.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after purchasing an additional 415,982 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW opened at $247.06 on Monday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market cap of $71.67 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 10.54 and a beta of 1.15. The business has a 50 day simple moving average of $248.25 and a 200 day simple moving average of $254.34. Illinois Tool Works has a 52-week low of $214.66 and a 52-week high of $278.13.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be given a $1.61 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio is presently 62.46%.

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.