Madison Asset Management LLC Sells 14,495 Shares of Illinois Tool Works Inc. $ITW

Madison Asset Management LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,466 shares of the industrial products company’s stock after selling 14,495 shares during the quarter. Madison Asset Management LLC’s holdings in Illinois Tool Works were worth $18,862,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ITW. Vanguard Group Inc. increased its holdings in shares of Illinois Tool Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. State Street Corp boosted its position in shares of Illinois Tool Works by 1.2% during the fourth quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock valued at $3,122,535,000 after buying an additional 151,864 shares during the last quarter. Geode Capital Management LLC increased its holdings in Illinois Tool Works by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after buying an additional 184,301 shares in the last quarter. Capital Research Global Investors raised its position in Illinois Tool Works by 3.2% in the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock worth $1,141,948,000 after buying an additional 142,837 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Illinois Tool Works by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock worth $912,562,000 after buying an additional 54,519 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $271.94 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $78.24 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00. The firm’s 50 day moving average price is $260.28 and its 200-day moving average price is $266.28. 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 earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $4.01 billion. During the same period in the previous year, the business posted $2.38 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is presently 59.80%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITW. The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. Evercore cut their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on shares of Illinois Tool Works from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Weiss Ratings cut Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $274.00.

Insider Activity at Illinois Tool Works

In related news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.83% of the stock is owned by company insiders.

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.