Stonebridge Capital Management Inc. Trims Stock Position in Illinois Tool Works Inc. $ITW

Stonebridge Capital Management Inc. lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 78.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,338 shares of the industrial products company’s stock after selling 4,918 shares during the period. Stonebridge Capital Management Inc.’s holdings in Illinois Tool Works were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Illinois Tool Works in the second quarter worth $5,017,000. Sanctuary Advisors LLC bought a new position in shares of Illinois Tool Works during the second quarter worth about $14,028,000. Strs Ohio grew its stake in Illinois Tool Works by 20.5% in the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock worth $20,508,000 after purchasing an additional 14,186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Illinois Tool Works by 3.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock valued at $146,433,000 after buying an additional 21,481 shares in the last quarter. Finally, Pacific Heights Asset Management LLC lifted its holdings in Illinois Tool Works by 15.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock worth $28,324,000 after buying an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 41,431 shares of the business’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 sale, the director owned 266,288 shares of the company’s stock, valued at $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer F. Scanlon bought 806 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares of the company’s stock, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $285.54 on Thursday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. The firm has a market capitalization of $81.32 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The business has a 50 day simple moving average of $279.22 and a 200 day simple moving average of $271.52.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s payout ratio is 58.39%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research analyst reports. Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Robert W. Baird lifted their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a report on Thursday, April 30th. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $281.25.

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.