Cyndeo Wealth Partners LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 384.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,969 shares of the industrial products company’s stock after purchasing an additional 12,670 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Illinois Tool Works were worth $4,109,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ITW. BlackRock Inc. acquired a new stake in Illinois Tool Works during the 2nd quarter worth about $6,296,349,000. Bank of New York Mellon Corp acquired a new position in shares of Illinois Tool Works in the second quarter worth about $603,166,000. Legal & General Group Plc acquired a new position in shares of Illinois Tool Works in the second quarter worth about $500,748,000. Deutsche Bank AG acquired a new position in shares of Illinois Tool Works in the second quarter worth about $221,746,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Illinois Tool Works in the second quarter worth approximately $209,959,000. 79.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on ITW shares. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Truist Financial lowered their price objective on shares of Illinois Tool Works from $308.00 to $297.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Finally, Wolfe Research reissued an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $273.42.
Illinois Tool Works Price Performance
Shares of NYSE:ITW opened at $272.47 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The business has a 50-day moving average of $273.50 and a two-hundred day moving average of $268.38. The stock has a market capitalization of $77.60 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81.
Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. Illinois Tool Works’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities research analysts predict that Illinois Tool Works Inc. will post 11.42 EPS for the current fiscal year.
Illinois Tool Works Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a $1.72 dividend. The ex-dividend date was Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is 62.38%.
Insider Buying and Selling at Illinois Tool Works
In related news, Director Ernest Santi sold 41,431 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the transaction, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. This represents a 13.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Matteo C. Pigozzo sold 277 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.
Illinois Tool Works Company Profile
Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces engineered products and systems for customers worldwide. The company serves a broad range of end markets, including automotive, construction, food service, welding, electronics, and general industry.
ITW’s product portfolio includes automotive components and fasteners, commercial food equipment, welding equipment and consumables, test and measurement instruments, electronic components, polymers and fluids, construction fastening systems, and other specialized industrial products.
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