Illinois Tool Works (NYSE:ITW) Price Target Raised to $280.00

Illinois Tool Works (NYSE:ITW) had its target price hoisted by Truist Financial from $275.00 to $280.00 in a research report released on Wednesday morning, Marketbeat Ratings reports. They currently have a hold rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Evercore dropped their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research report on Monday, November 17th. Robert W. Baird set a $278.00 target price on shares of Illinois Tool Works in a report on Wednesday. Citigroup boosted their price target on Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group reaffirmed a “sell” rating and set a $253.00 price target on shares of Illinois Tool Works in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on Illinois Tool Works from $250.00 to $270.00 and gave the stock an “underweight” rating in a research report on Wednesday. Two investment analysts have 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.com, Illinois Tool Works presently has an average rating of “Reduce” and an average price target of $270.69.

Illinois Tool Works Trading Up 1.9%

Shares of ITW stock opened at $293.63 on Wednesday. The business has a 50-day moving average of $256.81 and a 200 day moving average of $255.86. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.21 and a quick ratio of 1.11. Illinois Tool Works has a 1-year low of $214.66 and a 1-year high of $294.79. The stock 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.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.54 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works will post 10.39 earnings per share for the current year.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 167,345 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the sale, the director directly owned 258,766 shares in the company, 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 through this hyperlink. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Illinois Tool Works

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Illinois Tool Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after acquiring an additional 189,229 shares in the last quarter. State Street Corp increased its stake in shares of Illinois Tool Works by 0.9% during 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 purchasing an additional 108,919 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Illinois Tool Works by 1.9% during 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 purchasing an additional 122,990 shares during the last quarter. Capital Research Global Investors boosted its position in shares of 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 grew its stake in shares of 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 worth $938,822,000 after buying an additional 415,982 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

About Illinois Tool Works

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.