Illinois Tool Works (NYSE:ITW) Given New $301.00 Price Target at Truist Financial

Illinois Tool Works (NYSE:ITW) had its price objective raised by stock analysts at Truist Financial from $280.00 to $301.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price objective would suggest a potential upside of 11.93% from the company’s previous close.

Several other brokerages also recently weighed in on ITW. Citigroup boosted their target price on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Barclays cut their price target on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. Weiss Ratings downgraded Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Evercore decreased their price target on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $273.54.

Illinois Tool Works Stock Down 0.6%

ITW stock opened at $268.93 on Thursday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. The company’s 50 day simple moving average is $257.95 and its 200-day simple moving average is $264.49. Illinois Tool Works has a 12 month low of $238.82 and a 12 month high of $303.15. The firm has a market capitalization of $77.37 billion, a PE ratio of 24.97, a P/E/G ratio of 4.65 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.Illinois Tool Works’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities analysts expect that Illinois Tool Works will post 11.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the purchase, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Illinois Tool Works

A number of large investors have recently modified their holdings of ITW. Western Wealth Management LLC raised its holdings in shares of Illinois Tool Works by 5.6% during the 1st quarter. Western Wealth Management LLC now owns 2,043 shares of the industrial products company’s stock valued at $532,000 after buying an additional 109 shares during the period. Shariaportfolio Inc. acquired a new stake in Illinois Tool Works in the first quarter valued at approximately $1,485,000. Pine Valley Investments Ltd Liability Co grew its position in Illinois Tool Works by 2.5% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 10,339 shares of the industrial products company’s stock valued at $2,693,000 after acquiring an additional 252 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $153,000. Finally, Vestor Capital LLC lifted its position in shares of Illinois Tool Works by 2,538.3% during the first quarter. Vestor Capital LLC now owns 14,484 shares of the industrial products company’s stock worth $3,770,000 after purchasing an additional 13,935 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

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.