Morningstar Investment Management LLC Cuts Stake in Illinois Tool Works Inc. $ITW

Morningstar Investment Management LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 36.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,414 shares of the industrial products company’s stock after selling 7,857 shares during the period. Morningstar Investment Management LLC’s holdings in Illinois Tool Works were worth $3,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Y.D. More Investments Ltd purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at $2,498,000. Aberdeen Group plc increased its position in Illinois Tool Works by 4.7% in the fourth quarter. Aberdeen Group plc now owns 245,504 shares of the industrial products company’s stock worth $60,468,000 after purchasing an additional 11,035 shares during the last quarter. Strs Ohio raised its stake in Illinois Tool Works by 20.5% during the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock valued at $20,508,000 after purchasing an additional 14,186 shares in the last quarter. Financial Planning Hawaii Inc. bought a new position in Illinois Tool Works during the fourth quarter valued at $1,438,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Illinois Tool Works by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock worth $146,433,000 after buying an additional 21,481 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $282.91 on Friday. The firm has a 50-day moving average price of $262.39 and a 200-day moving average price of $266.96. The firm has a market capitalization of $81.39 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 4.86 and a beta of 1.00. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm posted $2.38 EPS. The firm’s revenue 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. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.80%.

Insider Activity

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, the director owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wolfe Research restated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a report on Thursday, July 9th. Truist Financial lifted their price target on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Barclays reduced 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. The Goldman Sachs Group restated a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. One equities 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 data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and an average price target of $274.00.

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.