Palumbo Wealth Management LLC Sells 9,562 Shares of Illinois Tool Works Inc. $ITW

Palumbo Wealth Management LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 47.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,544 shares of the industrial products company’s stock after selling 9,562 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Illinois Tool Works were worth $2,597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AE Wealth Management LLC boosted its position in Illinois Tool Works by 128.4% during the third quarter. AE Wealth Management LLC now owns 9,128 shares of the industrial products company’s stock valued at $2,380,000 after purchasing an additional 5,131 shares in the last quarter. Madison Asset Management LLC boosted its position in Illinois Tool Works by 411.8% during the third quarter. Madison Asset Management LLC now owns 87,875 shares of the industrial products company’s stock valued at $22,914,000 after purchasing an additional 70,704 shares in the last quarter. Siemens Fonds Invest GmbH boosted its position in Illinois Tool Works by 70.1% during the third quarter. Siemens Fonds Invest GmbH now owns 18,226 shares of the industrial products company’s stock valued at $4,753,000 after purchasing an additional 7,508 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in Illinois Tool Works by 10.4% during the third quarter. Mediolanum International Funds Ltd now owns 103,161 shares of the industrial products company’s stock valued at $26,964,000 after purchasing an additional 9,738 shares in the last quarter. Finally, Brendel Financial Advisors LLC boosted its position in Illinois Tool Works by 1,328.6% during the third quarter. Brendel Financial Advisors LLC now owns 13,929 shares of the industrial products company’s stock valued at $3,632,000 after purchasing an additional 12,954 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 167,345 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total value of $48,685,680.85. Following the completion of the sale, the director directly owned 258,766 shares in the company, valued at approximately $75,282,792.38. This trade represents a 39.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Axel Beck sold 4,223 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $290.22, for a total value of $1,225,599.06. Following the completion of the sale, the executive vice president owned 5,789 shares of the company’s stock, valued at approximately $1,680,083.58. This trade represents a 42.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of a number of recent research reports. Wolfe Research raised their price objective on Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a research report on Friday, February 27th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $253.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, February 3rd. Barclays dropped their price objective on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. Robert W. Baird set a $278.00 price objective on Illinois Tool Works in a research report on Wednesday, February 4th. Finally, Citigroup raised their price objective on Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $271.85.

Illinois Tool Works Trading Up 0.2%

Illinois Tool Works stock opened at $259.01 on Wednesday. The stock has a 50-day moving average of $276.64 and a two-hundred day moving average of $260.32. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.89 and a current ratio of 1.21. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $303.15. The stock has a market cap of $74.61 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 13.82 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.03. Illinois Tool Works had a return on equity of 95.16% and a net margin of 19.11%.The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same period last year, the business posted $2.54 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 31st will be paid a $1.61 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is 61.39%.

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.