Illinois Tool Works Inc. (NYSE:ITW) Given Average Rating of “Reduce” by Analysts

Illinois Tool Works Inc. (NYSE:ITW) has received a consensus recommendation of “Reduce” from the thirteen research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $262.00.

ITW has been the subject of a number of research reports. UBS Group increased their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Stifel Nicolaus increased their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Truist Financial lowered their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday. The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a report on Monday. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. This represents 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. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Illinois Tool Works

Hedge funds have recently modified their holdings of the stock. Bank & Trust Co boosted its holdings in Illinois Tool Works by 0.4% in the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 39 shares during the period. Northcape Wealth Management LLC boosted its holdings in Illinois Tool Works by 2.1% in the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 40 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Illinois Tool Works by 4.2% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 988 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 40 shares during the period. TFG Advisers LLC boosted its holdings in shares of Illinois Tool Works by 0.5% during the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 42 shares during the period. Finally, Freedom Investment Management Inc. boosted its holdings in shares of Illinois Tool Works by 3.0% during the second quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 42 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $245.85 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a fifty day simple moving average of $258.77 and a 200 day simple moving average of $252.20. The stock has a market cap of $71.32 billion, a P/E ratio of 23.85, a P/E/G ratio of 5.47 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the prior year, the company earned $3.91 EPS. The firm’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, research analysts expect that Illinois Tool Works will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.61 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

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.