Wolfe Research Cuts Illinois Tool Works (NYSE:ITW) Price Target to $276.00

Illinois Tool Works (NYSE:ITW) had its price target reduced by Wolfe Research from $278.00 to $276.00 in a research note issued to investors on Wednesday,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 research reports. Evercore lowered their target price on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Robert W. Baird set a $278.00 target price on shares of Illinois Tool Works in a research note on Wednesday. Citigroup raised their price target on shares of Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $250.00 to $270.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, Barclays raised their target price 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. Two equities 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, the company has an average rating of “Reduce” and an average target price of $270.54.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $5.34 during mid-day trading on Wednesday, reaching $293.63. 1,531,428 shares of the company traded hands, compared to its average volume of 1,520,624. The firm’s fifty day moving average is $256.81 and its two-hundred day moving average is $255.86. The company 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 fifty-two week low of $214.66 and a fifty-two week high of $294.79. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.21 and a quick ratio of 1.11.

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

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 167,345 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the transaction, the director directly owned 258,766 shares in the company, valued at approximately $75,282,792.38. The trade was a 39.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Illinois Tool Works

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Meridian Wealth Management LLC increased its holdings in Illinois Tool Works by 1.3% in the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 37 shares during the last quarter. Mayflower Financial Advisors LLC lifted its stake in Illinois Tool Works by 3.8% during the 4th quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 39 shares in the last quarter. Revisor Wealth Management LLC boosted its holdings in Illinois Tool Works by 1.4% during the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock valued at $734,000 after acquiring an additional 39 shares during the period. Concord Asset Management LLC VA increased its stake in Illinois Tool Works by 1.1% during the fourth quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 39 shares during the period. Finally, Planning Alternatives Ltd. ADV lifted its position in shares of Illinois Tool Works by 2.6% during the fourth quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

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.