NewEdge Wealth LLC Trims Stake in Illinois Tool Works Inc. $ITW

NewEdge Wealth LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 29.8% during the 1st quarter, Holdings Channel reports. The fund owned 7,710 shares of the industrial products company’s stock after selling 3,266 shares during the period. NewEdge Wealth LLC’s holdings in Illinois Tool Works were worth $2,007,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ITW. Cresta Advisors Ltd. bought a new position in Illinois Tool Works in the 4th quarter worth $25,000. Motiv8 Investments LLC purchased a new stake in Illinois Tool Works in the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. Finally, Ares Financial Consulting LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at about $31,000. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ITW. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Barclays decreased 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. Weiss Ratings lowered Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $274.00.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction dated 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 acquisition, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.83% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Up 2.2%

Shares of ITW opened at $282.91 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. The stock has a market capitalization of $81.39 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 4.86 and a beta of 1.00. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The business’s 50 day simple moving average is $262.39 and its 200-day simple moving average is $266.96.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the firm posted $2.38 earnings per share. Illinois Tool Works’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. As a group, equities analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were paid a $1.61 dividend. 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 presently 59.80%.

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.