Evercore ISI Has Lowered Expectations for Illinois Tool Works (NYSE:ITW) Stock Price

Illinois Tool Works (NYSE:ITW) had its price target cut by analysts at Evercore ISI from $261.00 to $253.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has an “underperform” rating on the industrial products company’s stock. Evercore ISI’s price objective points to a potential upside of 4.87% from the stock’s current price.

Several other equities analysts also recently commented on ITW. Truist Financial dropped their price target on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Barclays increased their price target on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Wells Fargo & Company lowered their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. Finally, Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $263.77.

Illinois Tool Works Trading Down 0.3%

Illinois Tool Works stock traded down $0.68 during midday trading on Monday, reaching $241.26. 75,404 shares of the stock traded hands, compared to its average volume of 1,075,801. The firm has a market cap of $69.99 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The company has a 50-day simple moving average of $252.52 and a two-hundred day simple moving average of $253.16. Illinois Tool Works has a 12-month low of $214.66 and a 12-month high of $279.13.

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. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Research analysts expect that Illinois Tool Works will post 10.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pamela B. Strobel sold 1,521 shares of the firm’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 value of $373,025.25. Following the transaction, the director owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Illinois Tool Works

Several large investors have recently modified their holdings of the company. Norges Bank purchased a new position in Illinois Tool Works during the 2nd quarter worth $821,888,000. Auto Owners Insurance Co grew its position in Illinois Tool Works by 55,978.4% in the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock valued at $354,654,000 after buying an additional 1,427,450 shares during the last quarter. Nuveen LLC acquired a new position in Illinois Tool Works in the 1st quarter valued at $293,928,000. Massachusetts Financial Services Co. MA raised its position in Illinois Tool Works by 12.3% during 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. Finally, Laurel Wealth Advisors LLC lifted its stake in shares of Illinois Tool Works by 24,625.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 343,431 shares of the industrial products company’s stock worth $84,913,000 after acquiring an additional 342,042 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.