Smithbridge Asset Management Inc. DE Cuts Stake in Illinois Tool Works Inc. $ITW

Smithbridge Asset Management Inc. DE trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 55.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,290 shares of the industrial products company’s stock after selling 2,890 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Illinois Tool Works were worth $596,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ITW. Brighton Jones LLC raised its holdings in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares during the period. Bison Wealth LLC raised its holdings in Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after buying an additional 81 shares during the period. Sivia Capital Partners LLC lifted its position in Illinois Tool Works by 20.6% during the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after buying an additional 177 shares in the last quarter. Sei Investments Co. grew its stake in Illinois Tool Works by 22.0% during the second quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock worth $26,401,000 after buying an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in shares of Illinois Tool Works by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after acquiring an additional 2,890 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity

In related news, Director Jennifer F. Scanlon bought 806 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, the director owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of several recent research reports. Barclays reduced their target price on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a report on Wednesday, April 1st. Wells Fargo & Company boosted their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. Evercore decreased their target price on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a report on Thursday, April 30th. Finally, Weiss Ratings lowered Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus target price of $271.92.

Illinois Tool Works Price Performance

ITW stock opened at $268.93 on Thursday. The stock’s 50 day moving average is $257.95 and its two-hundred day moving average is $264.49. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a market capitalization of $77.37 billion, a PE ratio of 24.97, a P/E/G ratio of 4.65 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04.

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

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is presently 59.80%.

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.