Palumbo Wealth Management LLC Trims Holdings in Illinois Tool Works Inc. $ITW

Palumbo Wealth Management LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 47.6% in the 4th quarter, HoldingsChannel reports. The firm owned 10,544 shares of the industrial products company’s stock after selling 9,562 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Illinois Tool Works were worth $2,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Corsicana & Co. purchased a new position in Illinois Tool Works during the third quarter valued at approximately $26,000. Lodestone Wealth Management LLC purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $28,000. Beacon Financial Strategies CORP purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $29,000. True Wealth Design LLC raised its position in Illinois Tool Works by 341.9% during the third quarter. True Wealth Design LLC now owns 137 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 106 shares in the last quarter. Finally, MTM Investment Management LLC raised its position in Illinois Tool Works by 70.5% during the third quarter. MTM Investment Management LLC now owns 162 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 67 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ITW. Citigroup raised their price objective on Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $310.00 to $327.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Wolfe Research raised their price objective on Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a report on Friday, February 27th. Truist Financial raised their price objective on Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, February 4th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $253.00 price objective on shares of Illinois Tool Works in a report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average price target of $271.85.

Illinois Tool Works Stock Up 0.2%

Shares of ITW opened at $259.01 on Wednesday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.89 and a current ratio of 1.21. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $303.15. The stock has a market capitalization of $74.61 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 13.82 and a beta of 1.13. The stock has a 50 day moving average price of $276.64 and a 200 day moving average price of $260.32.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.69 by $0.03. Illinois Tool Works had a return on equity of 95.16% and a net margin of 19.11%.The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same period in the previous year, the business earned $2.54 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 31st will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, March 31st. Illinois Tool Works’s payout ratio is presently 61.39%.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 167,345 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the completion of the sale, the director directly owned 258,766 shares in the company, valued at approximately $75,282,792.38. The trade was a 39.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Axel Beck sold 4,223 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $290.22, for a total value of $1,225,599.06. Following the sale, the executive vice president owned 5,789 shares of the company’s stock, valued at $1,680,083.58. The trade was a 42.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works 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.