Wolfe Research Issues Positive Forecast for Illinois Tool Works (NYSE:ITW) Stock Price

Illinois Tool Works (NYSE:ITW) had its price objective increased by Wolfe Research from $276.00 to $295.00 in a research note published on Friday morning,MarketScreener reports. Wolfe Research currently has an underperform rating on the industrial products company’s stock.

ITW has been the topic of a number of other reports. UBS Group restated a “neutral” rating and issued a $285.00 price target on shares of Illinois Tool Works in a research note on Wednesday, February 4th. Citigroup boosted their target price on Illinois Tool Works from $271.00 to $284.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Truist Financial increased their price target on shares of Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. Evercore reduced their price objective 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. Finally, Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $250.00 to $270.00 and gave the company an “underweight” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $274.38.

Illinois Tool Works Stock Down 0.1%

Shares of ITW stock traded down $0.20 during trading hours on Friday, reaching $290.08. 3,074,972 shares of the stock were exchanged, compared to its average volume of 1,653,437. The business’s fifty day moving average is $269.75 and its two-hundred day moving average is $259.70. The firm has a market capitalization of $83.60 billion, a P/E ratio of 27.65, a P/E/G ratio of 15.54 and a beta of 1.15. Illinois Tool Works has a 12-month low of $214.66 and a 12-month high of $303.15. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.21 and a quick ratio of 0.89.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.03. Illinois Tool Works had a net margin of 19.11% and a return on equity of 95.16%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the previous year, the firm earned $2.54 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. As a group, research analysts expect that Illinois Tool Works will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 31st will be paid a dividend of $1.61 per share. The ex-dividend date is Tuesday, March 31st. This represents a $6.44 dividend on an annualized basis and a yield of 2.2%. Illinois Tool Works’s dividend payout ratio is currently 61.39%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 167,345 shares of the company’s 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 completion of the sale, the director directly owned 258,766 shares of the company’s stock, valued at $75,282,792.38. This represents a 39.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Axel Beck sold 4,223 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $290.22, for a total value of $1,225,599.06. Following the completion of the transaction, the executive vice president owned 5,789 shares in the company, valued at $1,680,083.58. This trade represents a 42.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Illinois Tool Works

Several hedge funds have recently modified their holdings of ITW. Cresta Advisors Ltd. purchased a new position in Illinois Tool Works during the 4th quarter worth $25,000. Corsicana & Co. acquired a new position in shares of Illinois Tool Works during the third quarter worth about $26,000. Motiv8 Investments LLC purchased a new position in Illinois Tool Works during the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. acquired a new stake in Illinois Tool Works in the fourth quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at approximately $28,000. 79.77% of the stock is owned by institutional investors and hedge funds.

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.