Illinois Tool Works (NYSE:ITW) Stock Rating Upgraded by Bank of America

Illinois Tool Works (NYSE:ITW) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a $255.00 price objective on the industrial products company’s stock, up from their previous price objective of $220.00. Bank of America‘s price target would suggest a potential upside of 5.63% from the stock’s current price.

A number of other research firms have also recently weighed in on ITW. Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. UBS Group lifted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus upped their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $264.69.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $241.42 on Tuesday. Illinois Tool Works has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The firm has a market capitalization of $70.04 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The business’s fifty day moving average price is $252.92 and its 200 day moving average price is $253.16.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the firm posted $3.91 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, sell-side analysts anticipate that Illinois Tool Works will post 10.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by company insiders.

Institutional Trading of Illinois Tool Works

A number of institutional investors have recently modified their holdings of ITW. Brighton Jones LLC grew its stake in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares during the period. Bison Wealth LLC boosted its holdings in Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after buying an additional 81 shares in the last quarter. OneAscent Financial Services LLC boosted its holdings in Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after buying an additional 341 shares in the last quarter. IFP Advisors Inc grew its position in Illinois Tool Works by 93.7% during the first quarter. IFP Advisors Inc now owns 7,630 shares of the industrial products company’s stock worth $1,893,000 after buying an additional 3,690 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Illinois Tool Works by 3.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 20,728 shares of the industrial products company’s stock valued at $5,140,000 after buying an additional 751 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Company Profile

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.