2,172 Illinois Tool Works Inc. $ITW Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,670 shares of the industrial products company’s stock after selling 2,172 shares during the quarter. King Luther Capital Management Corp’s holdings in Illinois Tool Works were worth $32,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Illinois Tool Works during the second quarter worth $6,296,349,000. State Street Corp grew its position 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 valued at $3,479,219,000 after acquiring an additional 128,089 shares during the period. Bank of America Corp DE grew its position 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 valued at $782,343,000 after acquiring an additional 72,951 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $603,166,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 worth $532,261,000 after purchasing an additional 60,009 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group set a $277.00 target price on shares of Illinois Tool Works in a report on Friday, October 9th. Citigroup reduced their price target on Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating for the company in a report on Wednesday, October 28th. Weiss Ratings raised Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 28th. Truist Financial restated a “hold” rating and issued a $293.00 price objective (down from $297.00) on shares of Illinois Tool Works in a research note on Wednesday, October 28th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $270.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and a consensus price target of $276.33.

Illinois Tool Works Price Performance

NYSE:ITW opened at $288.44 on Thursday. The company has a market cap of $81.97 billion, a P/E ratio of 25.71, a P/E/G ratio of 3.16 and a beta of 0.92. The firm’s fifty day moving average price is $272.60 and its two-hundred day moving average price is $271.83. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.29 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.03. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 103.35%. Illinois Tool Works’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.81 EPS. Equities analysts expect that Illinois Tool Works Inc. will post 11.49 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $1.72 per share. The ex-dividend date is Thursday, December 31st. This represents a $6.88 annualized dividend and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is 61.32%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Santi sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $292.87, for a total transaction of $17,572,200.00. Following the completion of the sale, the director directly owned 266,333 shares in the company, valued at $78,000,945.71. This trade represents a 18.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.83% of the stock is owned by company insiders.

Illinois Tool Works News Summary

Here’s some of the latest news about ITW:

• Negative Sentiment: Zacks cut its FY2027 EPS estimate to $12.21 from $12.33 and its FY2028 estimate to $13.08 from $13.20. It also reduced forecasts for several quarters, including Q3 2027 ($3.17 from $3.27) and Q3 2028 ($3.39 from $3.48). The revisions could pressure sentiment, although the new annual estimates still imply higher earnings in 2027 and 2028 than the cited current-year consensus of $11.49. Illinois Tool Works analyst estimates

About Illinois Tool Works

Illinois Tool Works Inc. (NYSE: ITW) is a diversified manufacturer serving industrial and commercial customers around the world. Founded in 1912, the company is known for its decentralized operating model and focus on specialized products and solutions. ITW’s businesses make products and equipment for a range of markets, including automotive, food service, construction, welding, and testing and measurement. Its offerings include food-service equipment, welding systems and consumables, automotive components, construction products, polymers and fluids, and laboratory and electronics testing equipment.