Fenimore Asset Management Inc Sells 3,557 Shares of Illinois Tool Works Inc. $ITW

Fenimore Asset Management Inc reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,384 shares of the industrial products company’s stock after selling 3,557 shares during the period. Illinois Tool Works makes up 2.2% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 16th largest holding. Fenimore Asset Management Inc owned about 0.14% of Illinois Tool Works worth $100,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Illinois Tool Works in the second quarter valued at $6,296,349,000. State Street Corp raised its holdings in shares of Illinois Tool Works by 1.0% in the 2nd quarter. State Street Corp now owns 12,788,570 shares of the industrial products company’s stock worth $3,479,219,000 after acquiring an additional 128,089 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Illinois Tool Works by 2.5% in the 1st quarter. Bank of America Corp DE now owns 3,005,659 shares of the industrial products company’s stock worth $782,343,000 after acquiring an additional 72,951 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Illinois Tool Works in the 2nd quarter valued at about $603,166,000. Finally, Dimensional Fund Advisors LP boosted its stake in Illinois Tool Works by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,045,009 shares of the industrial products company’s stock valued at $532,261,000 after purchasing an additional 60,009 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of recent research reports. UBS Group reissued a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Weiss Ratings upgraded Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 28th. Wolfe Research reissued an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus price target of $282.00.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Santi sold 41,431 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 266,288 shares in the company, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matteo Pigozzo sold 277 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the transaction, 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. Insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW traded up $3.45 during mid-day trading on Thursday, hitting $264.60. The stock had a trading volume of 1,166,020 shares, compared to its average volume of 1,383,344. The firm has a market cap of $75.36 billion, a P/E ratio of 23.99, a PEG ratio of 2.88 and a beta of 0.96. The business has a fifty day moving average price of $276.93 and a 200-day moving average price of $268.15. 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 Inc. has a 52 week low of $238.82 and a 52 week high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the prior year, the company earned $2.58 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post 11.44 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a $1.72 dividend. The ex-dividend date is 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 2.6%. Illinois Tool Works’s dividend payout ratio is 62.38%.

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.