Illinois Tool Works (NYSE:ITW) Given New $245.00 Price Target at Wells Fargo & Company

Illinois Tool Works (NYSE:ITW) had its price objective decreased by Wells Fargo & Company from $270.00 to $245.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the industrial products company’s stock.

A number of other analysts have also recently commented on the stock. Wolfe Research lifted their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a research note on Friday, February 27th. Robert W. Baird set a $278.00 price target on shares of Illinois Tool Works in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Wednesday, January 28th. UBS Group reissued a “neutral” rating and set a $285.00 price objective on shares of Illinois Tool Works in a report on Wednesday, February 4th. Finally, Truist Financial upped their target price on Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $271.85.

Illinois Tool Works Trading Up 0.1%

NYSE ITW opened at $260.68 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.07. The firm has a market cap of $75.10 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 13.93 and a beta of 1.13. The company has a 50 day moving average price of $276.66 and a 200 day moving average price of $260.45. Illinois Tool Works has a 52 week low of $214.66 and a 52 week high of $303.15.

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 for the quarter, topping analysts’ consensus estimates of $2.69 by $0.03. Illinois Tool Works had a return on equity of 95.16% and a net margin of 19.11%.The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same quarter in the previous year, the firm earned $2.54 earnings per share. The company’s 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, sell-side analysts forecast that Illinois Tool Works will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, March 31st. Illinois Tool Works’s payout ratio is presently 61.39%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 167,345 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $290.93, for a total value of $48,685,680.85. Following the sale, the director owned 258,766 shares in the company, valued at $75,282,792.38. This represents a 39.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Axel Beck sold 4,223 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the transaction, the executive vice president directly owned 5,789 shares of the company’s stock, valued at approximately $1,680,083.58. This trade represents a 42.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Illinois Tool Works

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