BXM Wealth LLC Sells 19,133 Shares of Illinois Tool Works Inc. $ITW

Key Points

• BXM Wealth LLC sharply reduced its Illinois Tool Works stake, selling 19,133 shares in the first quarter and cutting its position by 87.8% to 2,661 shares worth about $693,000.
• Illinois Tool Works posted solid quarterly results, with EPS of $2.66 beating estimates and revenue of $4.02 billion slightly above expectations; the company also reaffirmed a full-year earnings outlook.
• Despite the earnings beat, Wall Street sentiment remains cautious: analysts’ consensus rating is “Reduce” with an average price target of $271.92, even as the stock recently traded around $267.62 and the company declared a quarterly dividend of $1.61 per share.

BXM Wealth LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 87.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,661 shares of the industrial products company's stock after selling 19,133 shares during the quarter. BXM Wealth LLC's holdings in Illinois Tool Works were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC increased its position in Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after purchasing an additional 277 shares during the period. Bison Wealth LLC boosted its stake in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock valued at $901,000 after purchasing an additional 81 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Illinois Tool Works by 20.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock valued at $257,000 after purchasing an additional 177 shares in the last quarter. Sei Investments Co. increased its position in shares of Illinois Tool Works by 22.0% during the second quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company's stock valued at $26,401,000 after buying an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Illinois Tool Works by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company's stock worth $33,845,000 after buying an additional 2,890 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Wall Street Analyst Weigh In

ITW has been the topic of several research reports. Wells Fargo & Company lifted 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. Weiss Ratings lowered Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Evercore lowered their target price on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Citigroup lifted their price target on Illinois Tool Works from $284.00 to $287.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Finally, Barclays reduced their price target on Illinois Tool Works from $275.00 to $250.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 1st. One 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. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $271.92.

Illinois Tool Works Price Performance

ITW stock opened at $267.62 on Tuesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The firm has a 50 day moving average price of $258.04 and a 200-day moving average price of $264.29. 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 capitalization of $77.00 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 4.60 and a beta of 1.01.

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

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works's dividend payout ratio is 59.80%.

Insider Buying and Selling

In other news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, the director owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.83% of the company's stock.

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.

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