Analysts’ Recent Ratings Updates for Illinois Tool Works (ITW)

Posted by Teresa Graham on Nov 21st, 2024

A number of firms have modified their ratings and price targets on shares of Illinois Tool Works (NYSE: ITW) recently:

11/13/2024 – Illinois Tool Works was downgraded by analysts at Evercore ISI from an “in-line” rating to an “underperform” rating. They now have a $255.00 price target on the stock, up previously from $246.00.
11/1/2024 – Illinois Tool Works had its price target raised by analysts at Barclays PLC from $215.00 to $230.00. They now have an “underweight” rating on the stock.
10/31/2024 – Illinois Tool Works had its price target raised by analysts at Robert W. Baird from $240.00 to $250.00. They now have a “neutral” rating on the stock.
10/31/2024 – Illinois Tool Works was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
10/16/2024 – Illinois Tool Works had its price target raised by analysts at Stifel Nicolaus from $260.00 to $262.00. They now have a “hold” rating on the stock.
10/10/2024 – Illinois Tool Works was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
10/9/2024 – Illinois Tool Works had its price target raised by analysts at Truist Financial Co. from $281.00 to $312.00. They now have a “buy” rating on the stock.
10/7/2024 – Illinois Tool Works had its price target raised by analysts at Wells Fargo & Company from $236.00 to $250.00. They now have an “underweight” rating on the stock.

Illinois Tool Works Price Performance

NYSE ITW traded up $3.52 on Thursday, hitting $269.90. 467,549 shares of the company’s stock were exchanged, compared to its average volume of 1,051,571. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $277.58. The stock has a market cap of $79.70 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 4.13 and a beta of 1.10. The stock has a 50-day moving average of $261.33 and a 200-day moving average of $249.46.

Illinois Tool Works (NYSE:ITW – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the firm posted $2.55 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Hedge Funds Weigh In On Illinois Tool Works

A number of hedge funds have recently bought and sold shares of ITW. Financial Connections Group Inc. bought a new position in Illinois Tool Works during the second quarter worth $30,000. Fairscale Capital LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. True Wealth Design LLC grew its stake in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth approximately $32,000. Finally, Northwest Investment Counselors LLC bought a new position in Illinois Tool Works in the third quarter worth approximately $35,000. Institutional investors own 79.77% of the company’s stock.

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.