Deutsche Bank Aktiengesellschaft Cuts Illinois Tool Works (NYSE:ITW) Price Target to $281.00

Illinois Tool Works (NYSE:ITW) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $287.00 to $281.00 in a report issued on Wednesday morning. Deutsche Bank Aktiengesellschaft currently has a hold rating on the industrial products company’s stock.

ITW has been the topic of several other reports. JPMorgan Chase & Co. boosted their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Truist Financial upped their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. UBS Group restated a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Finally, Robert W. Baird upped their target price on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $282.33.

Illinois Tool Works Price Performance

ITW stock opened at $263.24 on Wednesday. The firm has a 50 day moving average of $278.56 and a 200-day moving average of $268.13. The company has a market cap of $74.97 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 2.81 and a beta of 0.96. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. Illinois Tool Works has a 12-month low of $238.82 and a 12-month high of $303.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities analysts expect that Illinois Tool Works will post 11.44 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.38%.

Insiders Place Their Bets

In other news, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the sale, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. This represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ernest Santi sold 41,431 shares of Illinois Tool Works stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total value of $11,894,425.79. Following the completion of the transaction, the director owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of Illinois Tool Works

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Illinois Tool Works in the second quarter valued at about $6,296,349,000. Bank of New York Mellon Corp acquired a new position in Illinois Tool Works during the 2nd quarter valued at about $603,166,000. Legal & General Group Plc bought a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $500,748,000. Deutsche Bank AG acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth approximately $221,746,000. Finally, Hsbc Holdings PLC acquired a new position in Illinois Tool Works in the second quarter valued at approximately $209,959,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces engineered products and systems for customers worldwide. The company serves a broad range of end markets, including automotive, construction, food service, welding, electronics, and general industry.

ITW’s product portfolio includes automotive components and fasteners, commercial food equipment, welding equipment and consumables, test and measurement instruments, electronic components, polymers and fluids, construction fastening systems, and other specialized industrial products.