Smith Chas P & Associates PA Cpas Cuts Position in Illinois Tool Works Inc. $ITW

Smith Chas P & Associates PA Cpas cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 130,478 shares of the industrial products company’s stock after selling 2,571 shares during the quarter. Illinois Tool Works comprises about 1.7% of Smith Chas P & Associates PA Cpas’ investment portfolio, making the stock its 26th largest position. Smith Chas P & Associates PA Cpas’ holdings in Illinois Tool Works were worth $35,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ITW. Meridian Wealth Management LLC lifted its holdings in shares of Illinois Tool Works by 1.3% in the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 37 shares in the last quarter. Winnow Wealth LLC increased its position in Illinois Tool Works by 1.0% during the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after buying an additional 37 shares in the last quarter. Crown Wealth Group LLC increased its position in Illinois Tool Works by 4.0% during the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock worth $248,000 after buying an additional 37 shares in the last quarter. Planning Alternatives Ltd. ADV raised its holdings in shares of Illinois Tool Works by 2.6% in the fourth quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock worth $384,000 after acquiring an additional 39 shares during the last quarter. Finally, Argos Wealth Advisors LLC lifted its position in shares of Illinois Tool Works by 2.6% in the first quarter. Argos Wealth Advisors LLC now owns 1,526 shares of the industrial products company’s stock valued at $397,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.1%

Shares of ITW traded up $2.88 during trading on Friday, reaching $268.08. The company’s stock had a trading volume of 1,019,624 shares, compared to its average volume of 1,378,057. The company has a market cap of $76.35 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 3.58 and a beta of 0.98. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The company has a fifty day moving average of $280.16 and a two-hundred day moving average of $269.63. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm 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%.Illinois Tool Works’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.72 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s payout ratio is presently 58.39%.

Insiders Place Their Bets

In related news, CAO Matteo Pigozzo sold 277 shares of the 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 completion of the transaction, the chief accounting officer owned 3,394 shares in the company, valued at $981,612.68. This represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ernest Santi sold 41,431 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the sale, the director directly owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on ITW. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Truist Financial lifted their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. Finally, UBS Group reissued a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $281.25.

About Illinois Tool Works

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.