Illinois Tool Works Inc. $ITW Stock Position Cut by Confluence Investment Management LLC

Confluence Investment Management LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.7% in the third quarter, Holdings Channel.com reports. The firm owned 178,095 shares of the industrial products company’s stock after selling 14,939 shares during the quarter. Confluence Investment Management LLC’s holdings in Illinois Tool Works were worth $45,820,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ITW. Winnow Wealth LLC boosted its holdings in Illinois Tool Works by 1.0% in the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 37 shares during the last quarter. Crown Wealth Group LLC grew its holdings in Illinois Tool Works by 4.0% during the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after buying an additional 37 shares in the last quarter. Argos Wealth Advisors LLC raised its position in shares of Illinois Tool Works by 2.6% during the 1st quarter. Argos Wealth Advisors LLC now owns 1,526 shares of the industrial products company’s stock valued at $397,000 after buying an additional 39 shares in the last quarter. JFS Wealth Advisors LLC lifted its position in Illinois Tool Works by 21.5% in the second quarter. JFS Wealth Advisors LLC now owns 226 shares of the industrial products company’s stock worth $61,000 after buying an additional 40 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in Illinois Tool Works by 0.5% during the 1st quarter. North Star Investment Management Corp. now owns 8,191 shares of the industrial products company’s stock valued at $2,132,000 after acquiring an additional 44 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In other news, CAO Matteo Pigozzo sold 277 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the sale, the chief accounting officer owned 3,394 shares of the company’s stock, valued at $981,612.68. This represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ernest Santi sold 41,431 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the sale, the director owned 266,288 shares in the company, valued at $76,448,621.92. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is owned by insiders.

Illinois Tool Works Stock Up 1.5%

Shares of ITW traded up $3.79 during midday trading on Thursday, hitting $261.07. 442,471 shares of the company’s stock traded hands, compared to its average volume of 1,379,160. The firm’s fifty day moving average is $279.27 and its 200-day moving average is $268.21. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The stock has a market capitalization of $74.35 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 2.86 and a beta of 0.98. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $4.30 billion during 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% on a year-over-year basis. During the same period last year, the firm posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 11.44 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s payout ratio is currently 58.39%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of analyst reports. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Weiss Ratings upgraded shares of Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Truist Financial raised their target price on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $282.33.

Illinois Tool Works 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.