Illinois Tool Works (NYSE:ITW) Given New $278.00 Price Target at Wolfe Research

Illinois Tool Works (NYSE:ITW) had its price target boosted by stock analysts at Wolfe Research from $264.00 to $278.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage presently has an “underperform” rating on the industrial products company’s stock. Wolfe Research’s price objective indicates a potential upside of 6.13% from the company’s current price.

ITW has been the subject of a number of other reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft raised their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and lowered their price target for the company from $258.00 to $230.00 in a research report on Tuesday, December 16th. Truist Financial reduced their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Finally, Barclays lifted their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average price target of $261.08.

Illinois Tool Works Trading Up 1.2%

Shares of NYSE ITW traded up $3.06 during mid-day trading on Thursday, reaching $261.95. 1,023,453 shares of the company’s stock were exchanged, compared to its average volume of 1,523,432. Illinois Tool Works has a 52-week low of $214.66 and a 52-week high of $278.13. The firm has a market capitalization of $75.99 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 13.76 and a beta of 1.15. The company’s 50-day moving average is $249.43 and its 200-day moving average is $254.67. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53.

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

Insider Buying and Selling

In other news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Illinois Tool Works

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works during the second quarter worth about $25,000. SOA Wealth Advisors LLC. lifted its position in Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Corsicana & Co. bought a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $26,000. Lodestone Wealth Management LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $28,000. Finally, Beacon Financial Strategies CORP acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds 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.