Illinois Tool Works price target lowered to $258 from $266 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Illinois Tool Works (ITW) to $258 from $266 and keeps a Neutral rating on the shares. The company reported segment EBIT which was inline with FactSet consensus expectations, with strength in Auto OEM and Poly/Fluid offsetting weaker performance in Test & Measurement and Electronics segment and Welding, the analyst tells investors in a research note. The firm maintains its FY25 EPS but modestly lowers its out year estimates given weaker growth trends.