Weiss Ratings Reiterates “Buy (B-)” Rating for Illinois Tool Works (NYSE:ITW)

Illinois Tool Works (NYSE:ITW)‘s stock had its “buy (b-)” rating restated by stock analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

Several other brokerages have also recently commented on ITW. The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a report on Monday, October 27th. Truist Financial decreased their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Citigroup raised their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $262.00.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $244.08 on Friday. Illinois Tool Works has a twelve month low of $214.66 and a twelve month high of $279.13. 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 moving average of $257.51 and a 200-day moving average of $252.43. The firm has a market cap of $70.81 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the firm posted $3.91 EPS. The business’s revenue for the quarter 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. Analysts forecast that Illinois Tool Works will post 10.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Illinois Tool Works

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Command Advisory Services Inc. raised its position in Illinois Tool Works by 427.5% during the third quarter. First Command Advisory Services Inc. now owns 269 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 218 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Illinois Tool Works by 3.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 45,637 shares of the industrial products company’s stock valued at $11,904,000 after acquiring an additional 1,412 shares in the last quarter. Copia Wealth Management raised its position in Illinois Tool Works by 3,600.0% during the third quarter. Copia Wealth Management now owns 259 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 252 shares in the last quarter. Exchange Bank raised its position in Illinois Tool Works by 7.3% during the third quarter. Exchange Bank now owns 1,899 shares of the industrial products company’s stock valued at $495,000 after acquiring an additional 130 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in Illinois Tool Works by 1.2% during the third quarter. Cullen Frost Bankers Inc. now owns 11,395 shares of the industrial products company’s stock valued at $2,971,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

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.