Parr Mcknight Wealth Management Group LLC Sells 2,375 Shares of Illinois Tool Works Inc. $ITW

Parr Mcknight Wealth Management Group LLC lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 8.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,731 shares of the industrial products company’s stock after selling 2,375 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in Illinois Tool Works were worth $6,437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ITW. Vanguard Group Inc. raised its stake in Illinois Tool Works by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock valued at $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. State Street Corp grew its stake in Illinois Tool Works by 1.2% in the 4th quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock worth $3,122,535,000 after buying an additional 151,864 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Illinois Tool Works by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after buying an additional 184,301 shares during the last quarter. Capital Research Global Investors raised its position in shares of Illinois Tool Works by 3.2% during the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after buying an additional 142,837 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Illinois Tool Works by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock valued at $912,562,000 after buying an additional 54,519 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of several research reports. Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Barclays dropped their price target on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. Truist Financial upped their price objective on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Wells Fargo & Company increased their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus price target of $272.85.

Illinois Tool Works Trading Up 0.1%

NYSE ITW opened at $269.18 on Monday. The stock has a market cap of $77.44 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 4.62 and a beta of 1.00. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The stock has a 50 day simple moving average of $258.05 and a two-hundred day simple moving average of $265.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, analysts forecast that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is presently 59.80%.

Insider Transactions at Illinois Tool Works

In related news, Director Jennifer F. Scanlon purchased 806 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the purchase, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.83% of the stock is currently owned by insiders.

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.