Wells Fargo & Company Lowers Illinois Tool Works (NYSE:ITW) Price Target to $245.00

Illinois Tool Works (NYSE:ITW) had its price objective decreased by research analysts at Wells Fargo & Company from $270.00 to $245.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 6.46% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ITW. The Goldman Sachs Group reissued a “sell” rating and set a $253.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, February 3rd. Barclays lifted their target price on Illinois Tool Works from $244.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, February 9th. Citigroup boosted their price target on Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Truist Financial raised their price objective on Illinois Tool Works from $275.00 to $280.00 and gave the stock a “hold” rating in a research note on Wednesday, February 4th. Finally, UBS Group reaffirmed a “neutral” rating and set a $285.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and an average target price of $273.77.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded up $1.63 during midday trading on Wednesday, hitting $261.92. 401,336 shares of the company’s stock traded hands, compared to its average volume of 1,465,509. The firm has a fifty day moving average of $276.65 and a 200 day moving average of $260.45. Illinois Tool Works has a 1 year low of $214.66 and a 1 year high of $303.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.89 and a current ratio of 1.21. The stock has a market capitalization of $75.45 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 13.69 and a beta of 1.13.

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

Insider Transactions at Illinois Tool Works

In related news, EVP Axel Beck sold 4,223 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the sale, the executive vice president owned 5,789 shares of the company’s stock, valued at approximately $1,680,083.58. This trade represents a 42.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Scott Santi sold 167,345 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total value of $48,685,680.85. Following the completion of the transaction, the director directly owned 258,766 shares in the company, valued at approximately $75,282,792.38. This represents a 39.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Illinois Tool Works

Several institutional investors and hedge funds have recently modified their holdings of ITW. Brighton Jones LLC increased its holdings in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after acquiring an additional 277 shares during the last quarter. Bison Wealth LLC boosted its holdings in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Illinois Tool Works by 20.6% during the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 177 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Illinois Tool Works by 5.5% in the second quarter. American Century Companies Inc. now owns 63,752 shares of the industrial products company’s stock worth $15,763,000 after purchasing an additional 3,311 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Illinois Tool Works in the second quarter worth about $131,000. Institutional investors 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.