Illinois Tool Works Inc. $ITW Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 87.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 836 shares of the industrial products company’s stock after selling 5,827 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Illinois Tool Works were worth $218,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $808,351,000. Auto Owners Insurance Co lifted its stake in Illinois Tool Works by 24,530.0% in the fourth quarter. Auto Owners Insurance Co now owns 628,065 shares of the industrial products company’s stock valued at $15,469,000 after buying an additional 625,515 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Illinois Tool Works by 1,517.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company’s stock worth $96,062,000 after acquiring an additional 365,915 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Illinois Tool Works by 11.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company’s stock valued at $815,587,000 after acquiring an additional 353,056 shares during the period. Finally, Caisse de depot et placement du Quebec raised its position in Illinois Tool Works by 293.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 424,547 shares of the industrial products company’s stock valued at $110,705,000 after purchasing an additional 316,512 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their target price 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. Weiss Ratings cut Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Citigroup increased their price objective on Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Evercore dropped their target price on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. decreased 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. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus price target of $273.54.

Insider Transactions at Illinois Tool Works

In related news, Director Jennifer F. Scanlon bought 806 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Up 1.4%

Illinois Tool Works stock opened at $272.80 on Friday. The stock’s 50 day moving average price is $257.98 and its 200 day moving average price is $264.60. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The company has a market cap of $78.49 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 4.62 and a beta of 0.99. 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 earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating 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 company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company earned $2.38 earnings per share. Illinois Tool Works’s quarterly revenue 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. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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