Illinois Tool Works' (ITW) "Buy (B)" Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed its "Buy (B)" rating for Illinois Tool Works (ITW), indicating positive outlook from equity researchers.
• Several analysts have recently adjusted their target prices for ITW, with Deutsche Bank raising it to $268.00 and maintaining a "hold" rating, while Citigroup set a target at $265.00.
• Illinois Tool Works reported earnings of $2.58 per share, beating the consensus estimate of $2.56, with a revenue of $4.05 billion, marking a year-over-year increase.

Illinois Tool Works (NYSE:ITW - Get Free Report)'s stock had its "buy (b)" rating reiterated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on ITW. Deutsche Bank Aktiengesellschaft upped their target price on Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a research report on Thursday, October 2nd. Stifel Nicolaus boosted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Citigroup boosted their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, UBS Group boosted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $262.83.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $252.91 on Wednesday. Illinois Tool Works has a 12 month low of $214.66 and a 12 month high of $279.13. The stock's 50 day moving average is $261.33 and its 200-day moving average is $251.09. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $73.72 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 5.65 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the business earned $2.54 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities research analysts expect that Illinois Tool Works will post 10.39 EPS for the current year.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Illinois Tool Works by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company's stock valued at $6,607,453,000 after acquiring an additional 335,955 shares during the last quarter. State Street Corp lifted its stake in shares of Illinois Tool Works by 0.9% in the 2nd quarter. State Street Corp now owns 12,476,310 shares of the industrial products company's stock valued at $3,103,167,000 after acquiring an additional 108,919 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company's stock valued at $1,670,246,000 after acquiring an additional 122,990 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Illinois Tool Works by 12.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company's stock valued at $938,822,000 after acquiring an additional 415,982 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Illinois Tool Works by 2.3% in the second quarter. Fisher Asset Management LLC now owns 3,595,146 shares of the industrial products company's stock valued at $888,900,000 after purchasing an additional 80,527 shares during the period. 79.77% of the stock is currently owned by institutional investors.

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.

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