Illinois Tool Works Inc. $ITW Stock Position Decreased by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 78.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,338 shares of the industrial products company’s stock after selling 4,918 shares during the period. Stonebridge Capital Management Inc.’s holdings in Illinois Tool Works were worth $362,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cresta Advisors Ltd. acquired a new position in Illinois Tool Works during the fourth quarter valued at $25,000. Motiv8 Investments LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $27,000. Kemnay Advisory Services Inc. acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $27,000. Abound Wealth Management lifted its position in shares of Illinois Tool Works by 178.6% in the second quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Finally, Wilkerson Advisory Group LLC grew its position in Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jennifer F. Scanlon purchased 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of Illinois Tool Works 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 owned 266,288 shares in the company, valued at $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore cut their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Wolfe Research reissued 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 reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $285.54 on Thursday. The business’s 50-day simple moving average is $279.22 and its 200-day simple moving average is $271.52. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The firm has a market cap of $81.32 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 4.76 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a $1.72 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 annualized dividend and a yield of 2.4%. Illinois Tool Works’s payout ratio is 58.39%.

Illinois Tool Works Company Profile

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.