Illinois Tool Works Inc. $ITW Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 26.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 113,989 shares of the industrial products company’s stock after purchasing an additional 24,129 shares during the quarter. CIBC Asset Management Inc’s holdings in Illinois Tool Works were worth $28,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Meridian Wealth Management LLC lifted its stake in shares of Illinois Tool Works by 1.3% during the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after buying an additional 37 shares during the period. Mayflower Financial Advisors LLC lifted its stake in shares of Illinois Tool Works by 3.8% during the fourth quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company’s stock worth $262,000 after buying an additional 39 shares during the period. Revisor Wealth Management LLC lifted its stake in shares of Illinois Tool Works by 1.4% during the fourth quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock worth $734,000 after buying an additional 39 shares during the period. Concord Asset Management LLC VA lifted its stake in shares of Illinois Tool Works by 1.1% during the fourth quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock worth $884,000 after buying an additional 39 shares during the period. Finally, Planning Alternatives Ltd. ADV lifted its stake in shares of Illinois Tool Works by 2.6% during the fourth quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock worth $384,000 after buying an additional 39 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.8%

ITW opened at $250.62 on Thursday. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The company has a fifty day moving average of $259.23 and a two-hundred day moving average of $262.48. The stock has a market capitalization of $72.10 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 4.27 and a beta of 1.01.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the company earned $2.38 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, research analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s payout ratio is presently 59.80%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ITW shares. Truist Financial boosted their target price on shares of Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Wolfe Research boosted their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a research report on Friday, February 27th. Weiss Ratings downgraded shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. UBS Group restated a “neutral” rating and set a $285.00 target price on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and an average target price of $271.92.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.