Illinois Tool Works (NYSE:ITW) Price Target Raised to $310.00

Illinois Tool Works (NYSE:ITW) had its price objective hoisted by JPMorgan Chase & Co. from $275.00 to $310.00 in a research note released on Wednesday,MarketScreener reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

ITW has been the topic of a number of other reports. Evercore reduced their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a report on Monday, November 17th. Barclays boosted their price objective on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. Robert W. Baird set a $278.00 price objective on Illinois Tool Works in a research note on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Wednesday, January 28th. Finally, Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their price target for the company from $220.00 to $255.00 in a report on Tuesday, November 18th. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $270.69.

Illinois Tool Works Stock Up 1.9%

Shares of ITW opened at $293.63 on Wednesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.21 and a quick ratio of 1.11. The stock has a market capitalization of $85.18 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 15.50 and a beta of 1.15. Illinois Tool Works has a 1 year low of $214.66 and a 1 year high of $294.79. The business’s 50 day simple moving average is $256.81 and its 200-day simple moving average is $255.86.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.03. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Illinois Tool Works had a net margin of 19.11% and a return on equity of 95.16%. Illinois Tool Works’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. As a group, equities analysts expect that Illinois Tool Works will post 10.39 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ernest Scott Santi sold 167,345 shares of the business’s stock in a transaction 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 transaction, the director owned 258,766 shares in the company, valued at $75,282,792.38. The trade was a 39.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Illinois Tool Works

Institutional investors and hedge funds have recently made changes to their positions in the business. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works in the second quarter worth about $25,000. Cresta Advisors Ltd. bought a new position in Illinois Tool Works in the 4th quarter worth about $25,000. Corsicana & Co. purchased a new position in shares of Illinois Tool Works during the third quarter worth approximately $26,000. Lodestone Wealth Management LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. Finally, Beacon Financial Strategies CORP purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $29,000. 79.77% of the stock is currently owned by institutional investors.

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.