NewEdge Advisors LLC Reduces Position in Illinois Tool Works Inc. $ITW

NewEdge Advisors LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 25.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 38,132 shares of the industrial products company’s stock after selling 13,038 shares during the period. NewEdge Advisors LLC’s holdings in Illinois Tool Works were worth $9,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Illinois Tool Works Price Performance

NYSE:ITW opened at $296.63 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The stock’s 50-day moving average price is $270.76 and its 200-day moving average price is $269.53. The stock has a market capitalization of $85.34 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 5.01 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the prior year, the business posted $2.58 earnings per share. Illinois Tool Works’s revenue for the quarter was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities analysts expect that Illinois Tool Works Inc. will post 11.46 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.3%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is 58.39%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ITW shares. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. Truist Financial increased 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. Robert W. Baird boosted their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Evercore reduced their price target on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $281.25.

Insiders Place Their Bets

In other news, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.