Brokerages Set Illinois Tool Works Inc. (NYSE:ITW) Price Target at $259.25

Illinois Tool Works Inc. (NYSE:ITW) has earned an average rating of “Reduce” from the thirteen ratings firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $259.6667.

ITW has been the topic of several research analyst reports. The Goldman Sachs Group lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $258.00 to $230.00 in a research note on Tuesday, December 16th. Evercore ISI reduced their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research report on Monday, November 17th. Barclays boosted their price objective 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. Truist Financial reduced their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Finally, Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $245.00 to $250.00 and gave the stock an “underweight” rating in a research report on Wednesday.

Insider Activity at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the transaction, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Institutional Trading of Illinois Tool Works

A number of hedge funds have recently made changes to their positions in ITW. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works in the 2nd quarter valued at about $25,000. Corsicana & Co. purchased a new position in shares of Illinois Tool Works in the third quarter valued at approximately $26,000. SOA Wealth Advisors LLC. grew its holdings in shares of Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Illinois Tool Works during the 2nd quarter worth approximately $31,000. Finally, Vermillion & White Wealth Management Group LLC lifted its holdings in Illinois Tool Works by 103.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock worth $31,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.5%

Shares of NYSE ITW opened at $255.08 on Monday. The stock has a market capitalization of $74.00 billion, a PE ratio of 24.74, a P/E/G ratio of 10.58 and a beta of 1.15. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The firm has a fifty day moving average of $248.68 and a 200-day moving average of $254.53. Illinois Tool Works has a 52-week low of $214.66 and a 52-week high of $278.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the company posted $3.91 EPS. 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. On average, analysts anticipate that Illinois Tool Works will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were paid a $1.61 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

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.