Klingenstein Fields & Co. LP Cuts Stock Holdings in Illinois Tool Works Inc. $ITW

Klingenstein Fields & Co. LP reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,118 shares of the industrial products company’s stock after selling 2,142 shares during the period. Klingenstein Fields & Co. LP’s holdings in Illinois Tool Works were worth $6,925,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Illinois Tool Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after buying an additional 189,229 shares in the last quarter. Geode Capital Management LLC increased its stake in Illinois Tool Works by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after buying an additional 184,301 shares in the last quarter. Capital Research Global Investors increased its stake in Illinois Tool Works by 3.2% during the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock worth $1,141,948,000 after buying an additional 142,837 shares in the last quarter. Fisher Asset Management LLC increased its stake in Illinois Tool Works by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock worth $912,562,000 after buying an additional 54,519 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Illinois Tool Works by 11.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company’s stock worth $815,587,000 after buying an additional 353,056 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Illinois Tool Works news, Director Jennifer F. Scanlon acquired 806 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the acquisition, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ITW. Weiss Ratings lowered Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Citigroup boosted their target price on Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Evercore lowered their target price on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Wells Fargo & Company boosted their target price on Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Monday, May 4th. Finally, Barclays lowered their target price on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $271.92.

Illinois Tool Works Trading Up 1.1%

Shares of Illinois Tool Works stock opened at $257.22 on Friday. The stock has a market cap of $74.00 billion, a P/E ratio of 23.88, a P/E/G ratio of 4.37 and a beta of 1.01. The stock’s 50 day simple moving average is $258.18 and its 200-day simple moving average is $262.87. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. 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 (NYSE:ITW) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the firm posted $2.38 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. 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 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a $1.61 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio is currently 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.