Illinois Tool Works Inc. $ITW Stock: Sterling Capital Management LLC Trims Holdings

Sterling Capital Management LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 12.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,746 shares of the industrial products company’s stock after selling 3,020 shares during the period. Sterling Capital Management LLC’s holdings in Illinois Tool Works were worth $5,595,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. XXI Wealth LLC bought a new position in Illinois Tool Works in the third quarter valued at approximately $277,000. Carderock Capital Management Inc. raised its position in Illinois Tool Works by 2.7% during the third quarter. Carderock Capital Management Inc. now owns 25,079 shares of the industrial products company’s stock valued at $6,452,000 after purchasing an additional 659 shares in the last quarter. MBL Wealth LLC lifted its stake in Illinois Tool Works by 90.6% during the third quarter. MBL Wealth LLC now owns 1,780 shares of the industrial products company’s stock worth $458,000 after purchasing an additional 846 shares during the last quarter. Brookstone Capital Management lifted its stake in Illinois Tool Works by 1.6% during the third quarter. Brookstone Capital Management now owns 4,903 shares of the industrial products company’s stock worth $1,261,000 after purchasing an additional 76 shares during the last quarter. Finally, NBT Bank N.A. acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $606,000. 79.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Illinois Tool Works from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $350.00 to $270.00 in a research note on Friday, October 9th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Wolfe Research restated an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 9th. UBS Group set a $277.00 price objective on Illinois Tool Works in a research note on Friday, October 9th. Finally, Robert W. Baird lifted their target price on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and an average target price of $273.42.

Illinois Tool Works Price Performance

ITW stock opened at $275.80 on Friday. The stock has a market cap of $78.55 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 2.98 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. The company has a 50 day simple moving average of $271.82 and a 200 day simple moving average of $268.97. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm 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%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Research analysts anticipate that Illinois Tool Works Inc. will post 11.42 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is currently 62.38%.

Illinois Tool Works Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW’s operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.