Lazard Asset Management LLC Sells 49,486 Shares of Illinois Tool Works Inc. $ITW

Lazard Asset Management LLC lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 236,429 shares of the industrial products company’s stock after selling 49,486 shares during the period. Lazard Asset Management LLC’s holdings in Illinois Tool Works were worth $61,540,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ITW. Meridian Wealth Management LLC grew its stake in shares of Illinois Tool Works by 1.3% in the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after purchasing an additional 37 shares during the last quarter. Winnow Wealth LLC raised its position in Illinois Tool Works by 1.0% during the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 37 shares during the last quarter. Crown Wealth Group LLC lifted its holdings in Illinois Tool Works by 4.0% during the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock worth $248,000 after buying an additional 37 shares during the period. Revisor Wealth Management LLC grew its position in shares of Illinois Tool Works by 1.4% in the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock valued at $734,000 after buying an additional 39 shares during the last quarter. Finally, Concord Asset Management LLC VA increased its stake in shares of Illinois Tool Works by 1.1% in the fourth quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock valued at $884,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ITW. Barclays cut their price objective on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Wells Fargo & Company increased their target price 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. JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Evercore reduced their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Finally, Weiss Ratings cut shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. One 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 stock has an average rating of “Reduce” and an average price target of $274.00.

Illinois Tool Works Trading Up 0.7%

NYSE ITW opened at $285.12 on Tuesday. The stock has a market capitalization of $82.03 billion, a P/E ratio of 26.47, a P/E/G ratio of 4.86 and a beta of 1.00. The business has a 50 day simple moving average of $263.11 and a 200 day simple moving average of $267.30. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly 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. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Research analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s payout ratio is 59.80%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon acquired 806 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, with a total value of $199,879.94. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.83% of the company’s stock.

About Illinois Tool Works

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.