Illinois Tool Works Inc. $ITW Stake Cut by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 55.8% in the 1st quarter, Holdings Channel reports. The firm owned 2,290 shares of the industrial products company’s stock after selling 2,890 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Illinois Tool Works were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of ITW. Cresta Advisors Ltd. acquired a new stake in Illinois Tool Works during the fourth quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $27,000. Kemnay Advisory Services Inc. bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. Finally, Beacon Financial Strategies CORP acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $29,000. 79.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction 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 transaction, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ITW shares. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 target price on shares of Illinois Tool Works in a research note on Thursday, April 30th. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Evercore dropped their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, Barclays cut their price objective on shares of 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. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and an average price target of $271.92.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $268.93 on Thursday. The stock has a market cap of $77.37 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The company’s 50-day moving average price is $257.95 and its two-hundred day moving average price is $264.49.

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 for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business posted $2.38 EPS. Illinois Tool Works’s revenue was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio is 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.