NewEdge Wealth LLC Has $2.70 Million Stock Holdings in Illinois Tool Works Inc. $ITW

NewEdge Wealth LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 90.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,976 shares of the industrial products company’s stock after buying an additional 5,209 shares during the period. NewEdge Wealth LLC’s holdings in Illinois Tool Works were worth $2,703,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ITW. Denali Advisors LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at $566,000. Crossmark Global Holdings Inc. raised its holdings in Illinois Tool Works by 19.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 20,638 shares of the industrial products company’s stock worth $5,083,000 after acquiring an additional 3,412 shares in the last quarter. BHK Investment Advisors LLC boosted its position in Illinois Tool Works by 11.4% during the fourth quarter. BHK Investment Advisors LLC now owns 3,021 shares of the industrial products company’s stock valued at $744,000 after purchasing an additional 308 shares during the last quarter. Chesapeake Wealth Management boosted its position in Illinois Tool Works by 5.6% during the fourth quarter. Chesapeake Wealth Management now owns 1,871 shares of the industrial products company’s stock valued at $461,000 after purchasing an additional 100 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Illinois Tool Works by 36.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,892 shares of the industrial products company’s stock valued at $466,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITW. Robert W. Baird set a $278.00 target price on shares of Illinois Tool Works in a research note on Wednesday, February 4th. UBS Group restated a “neutral” rating and set a $285.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, February 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Monday, April 27th. The Goldman Sachs Group restated a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a research note on Thursday, April 30th. Finally, Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average price target of $271.92.

Illinois Tool Works Price Performance

ITW stock opened at $251.66 on Wednesday. The firm has a market cap of $72.40 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 4.34 and a beta of 1.04. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The company’s fifty day simple moving average is $266.49 and its 200 day simple moving average is $262.03.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.09. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. Illinois Tool Works’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, analysts expect that Illinois Tool Works Inc. will post 11.36 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, July 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.61 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio is currently 59.80%.

About Illinois Tool Works

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.