Wedbush Securities Inc. Grows Stake in Illinois Tool Works Inc. $ITW

Wedbush Securities Inc. boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 46.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,875 shares of the industrial products company’s stock after purchasing an additional 3,465 shares during the quarter. Wedbush Securities Inc.’s holdings in Illinois Tool Works were worth $2,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Varma Mutual Pension Insurance Co increased its holdings in Illinois Tool Works by 9.1% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 52,734 shares of the industrial products company’s stock valued at $13,751,000 after acquiring an additional 4,400 shares in the last quarter. Savvy Advisors Inc. grew its position in shares of Illinois Tool Works by 4.6% in the third quarter. Savvy Advisors Inc. now owns 2,968 shares of the industrial products company’s stock valued at $774,000 after purchasing an additional 131 shares during the last quarter. LSV Asset Management purchased a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $339,000. Cibc World Market Inc. raised its position in shares of Illinois Tool Works by 2.3% during the 3rd quarter. Cibc World Market Inc. now owns 26,793 shares of the industrial products company’s stock worth $6,987,000 after purchasing an additional 609 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $2,451,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.1%

NYSE ITW opened at $298.27 on Friday. The company has a market cap of $86.53 billion, a P/E ratio of 28.43, a P/E/G ratio of 15.96 and a beta of 1.15. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $303.16. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.21 and a quick ratio of 0.89. The company has a 50-day moving average of $260.52 and a 200-day moving average of $256.79.

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

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 167,345 shares of Illinois Tool Works stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total value of $48,685,680.85. Following the transaction, the director directly owned 258,766 shares of the company’s stock, valued at $75,282,792.38. The trade was a 39.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Axel Beck sold 4,223 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the completion of the transaction, the executive vice president owned 5,789 shares in the company, valued at $1,680,083.58. The trade was a 42.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ITW shares. The Goldman Sachs Group reissued a “sell” rating and issued a $253.00 price target on shares of Illinois Tool Works in a report on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Wednesday, January 28th. Wolfe Research reduced their target price on shares of Illinois Tool Works from $278.00 to $276.00 and set an “underperform” rating on the stock in a report on Wednesday, February 4th. Truist Financial lifted their price target on shares of Illinois Tool Works from $275.00 to $280.00 and gave the stock a “hold” rating in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Illinois Tool Works from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $272.92.

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.