Summit Wealth Group LLC Co. Lowers Position in Illinois Tool Works Inc. $ITW

Summit Wealth Group LLC Co. lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 64.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,162 shares of the industrial products company’s stock after selling 2,114 shares during the quarter. Summit Wealth Group LLC Co.’s holdings in Illinois Tool Works were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Argos Wealth Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $366,000. Meridian Wealth Management LLC lifted its stake in shares of Illinois Tool Works by 1.3% in the 4th 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. HighPoint Advisor Group LLC lifted its stake in shares of Illinois Tool Works by 16.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 20,240 shares of the industrial products company’s stock valued at $4,985,000 after purchasing an additional 2,811 shares during the period. ABC Arbitrage SA lifted its stake in shares of Illinois Tool Works by 121.0% in the 4th quarter. ABC Arbitrage SA now owns 1,744 shares of the industrial products company’s stock valued at $430,000 after purchasing an additional 955 shares during the period. Finally, HORAN Wealth LLC raised its stake in Illinois Tool Works by 0.7% during the fourth quarter. HORAN Wealth LLC now owns 14,618 shares of the industrial products company’s stock valued at $3,600,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Monday, April 27th. JPMorgan Chase & Co. reduced their price target on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Wells Fargo & Company raised their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. UBS Group restated a “neutral” rating and set a $285.00 price target on shares of Illinois Tool Works in a report on Wednesday, February 4th. Finally, Wolfe Research raised their price target on Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a report on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $271.92.

Illinois Tool Works Trading Down 0.5%

Illinois Tool Works stock opened at $250.13 on Thursday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The business’s fifty day moving average is $265.67 and its 200 day moving average is $261.98. The stock has a market capitalization of $71.96 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 4.32 and a beta of 1.04. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company earned $2.38 EPS. Illinois Tool Works’s revenue for the quarter 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. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 11.36 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.80%.

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.