Illinois Tool Works (NYSE:ITW) Price Target Cut to $276.00 by Analysts at Wolfe Research

Illinois Tool Works (NYSE:ITW) had its target price cut by Wolfe Research from $278.00 to $276.00 in a research note released on Wednesday morning,MarketScreener reports. They currently have an underperform rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on the company. UBS Group reissued a “neutral” rating and issued a $285.00 price target on shares of Illinois Tool Works in a research note on Wednesday. Citigroup boosted their target price 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. Evercore cut their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Barclays lifted their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Finally, Truist Financial raised their target price on Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $270.54.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $293.63 on Wednesday. The company has a market capitalization of $85.18 billion, a PE ratio of 27.99, a P/E/G ratio of 15.50 and a beta of 1.15. The company has a quick ratio of 1.11, 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 $294.79. The firm has a fifty day simple moving average of $256.81 and a 200 day simple moving average of $255.86.

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

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 167,345 shares of the business’s stock in a transaction that occurred 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 owned 258,766 shares of the company’s stock, valued at $75,282,792.38. The trade was a 39.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Illinois Tool Works

A number of institutional investors have recently added to or reduced their stakes in ITW. Meridian Wealth Management LLC grew its position in Illinois Tool Works by 1.3% during the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after acquiring an additional 37 shares during the last quarter. Mayflower Financial Advisors LLC boosted its position in Illinois Tool Works by 3.8% during the 4th quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company’s stock valued at $262,000 after buying an additional 39 shares during the period. Revisor Wealth Management LLC grew its holdings in Illinois Tool Works by 1.4% in the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock worth $734,000 after acquiring an additional 39 shares during the last quarter. Concord Asset Management LLC VA increased its position in shares of Illinois Tool Works by 1.1% in the fourth quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock valued at $884,000 after acquiring an additional 39 shares during the period. Finally, Planning Alternatives Ltd. ADV raised its stake in shares of Illinois Tool Works by 2.6% during the fourth quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 39 shares during the last quarter. 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.