Illinois Tool Works (NYSE:ITW) Price Target Raised to $297.00

Illinois Tool Works (NYSE:ITW) had its target price raised by Robert W. Baird from $278.00 to $297.00 in a research report released on Wednesday, MarketBeat.com reports. They currently have a neutral rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the stock. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. The Goldman Sachs Group reissued a “sell” rating and issued a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. Wolfe Research restated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. Weiss Ratings downgraded Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Barclays lowered their price objective on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. 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. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Stock Up 1.3%

Shares of NYSE ITW opened at $287.51 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.86 and a current ratio of 1.11. Illinois Tool Works has a 1 year low of $238.82 and a 1 year high of $303.15. The stock’s 50-day simple moving average is $266.31 and its 200-day simple moving average is $268.26. The firm has a market cap of $82.72 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 4.83 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the business earned $2.58 EPS. Illinois Tool Works’s revenue for the quarter was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities analysts anticipate that Illinois Tool Works will post 11.47 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.39%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the transaction, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Illinois Tool Works

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in 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 worth $1,399,000 after buying an additional 277 shares during the last quarter. Bison Wealth LLC increased its holdings in shares of Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after acquiring an additional 81 shares during the period. Sivia Capital Partners LLC lifted its position in Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 177 shares during the last quarter. Sei Investments Co. boosted 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 grew its position 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 during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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.