Illinois Tool Works (NYSE:ITW) Stock Moved Down to Neutral by JPMorgan Chase & Co.

Illinois Tool Works (NYSE:ITW) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Friday, MarketBeat reports. They currently have a $270.00 target price on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.04% from the company’s current price.

Several other equities research analysts have also recently weighed in on ITW. Truist Financial cut their target price on Illinois Tool Works from $308.00 to $297.00 and set a “hold” rating for the company in a research note on Monday. Wolfe Research reissued an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating for the company in a research report on Wednesday, September 30th. Robert W. Baird lifted their target price on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, UBS Group set a $277.00 price target on shares of Illinois Tool Works in a research note on Friday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $273.42.

Illinois Tool Works Price Performance

ITW stock opened at $264.60 on Friday. The company’s 50-day moving average price is $276.54 and its two-hundred day moving average price is $268.20. The firm has a market cap of $75.36 billion, a P/E ratio of 23.99, a P/E/G ratio of 2.82 and a beta of 0.96. The company has a quick ratio of 0.81, a current ratio of 1.11 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 issued 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 company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. 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. On average, analysts anticipate that Illinois Tool Works will post 11.42 earnings per share for the current fiscal year.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo Pigozzo sold 277 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. The trade was a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ernest Santi sold 41,431 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the transaction, the director directly owned 266,288 shares of the company’s stock, valued at $76,448,621.92. The trade was a 13.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Illinois Tool Works

A number of institutional investors have recently made changes to their positions in ITW. BlackRock Inc. bought a new position in Illinois Tool Works during the 2nd quarter worth approximately $6,296,349,000. Bank of New York Mellon Corp acquired a new stake in shares of Illinois Tool Works during the second quarter worth $603,166,000. Legal & General Group Plc acquired a new stake in shares of Illinois Tool Works during the second quarter worth $500,748,000. Deutsche Bank AG bought a new position in Illinois Tool Works during the second quarter worth $221,746,000. Finally, Hsbc Holdings PLC acquired a new position in Illinois Tool Works in the second quarter valued at $209,959,000. Institutional investors 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.