Cibc World Market Inc. Has $3.41 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Cibc World Market Inc. cut its Illinois Tool Works stake by 48.3% in the fourth quarter, leaving it with 13,850 shares valued at about $3.41 million.
• Illinois Tool Works reported better-than-expected quarterly results, with EPS of $2.66 versus $2.57 expected and revenue of $4.02 billion, up 4.6% year over year.
• The company announced a quarterly dividend of $1.61 per share, payable July 10, implying an annualized payout of $6.44 and a yield of 2.5%.

Cibc World Market Inc. decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 48.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,850 shares of the industrial products company's stock after selling 12,943 shares during the quarter. Cibc World Market Inc.'s holdings in Illinois Tool Works were worth $3,411,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after buying an additional 277 shares in the last quarter. Bison Wealth LLC increased its position in shares of Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock valued at $901,000 after buying an additional 81 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock valued at $257,000 after buying an additional 177 shares in the last quarter. Sei Investments Co. increased its position in shares of Illinois Tool Works by 22.0% in the 2nd 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 in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Illinois Tool Works by 2.2% during the 2nd 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 purchasing an additional 2,890 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Trading Down 0.0%

Shares of NYSE:ITW opened at $252.60 on Tuesday. The company has a 50-day simple moving average of $258.50 and a 200 day simple moving average of $262.68. 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 company has a market capitalization of $72.67 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 4.34 and a beta of 1.01. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15.

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

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, June 30th. Illinois Tool Works's payout ratio is presently 59.80%.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 1st. Evercore lowered their target price on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Weiss Ratings cut Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Citigroup increased their target price on Illinois Tool Works from $284.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Finally, Barclays reduced their price objective on shares of 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. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Illinois Tool Works presently has a consensus rating of "Reduce" and a consensus target price of $271.92.

Insider Transactions at Illinois Tool Works

In related news, Director Jennifer F. Scanlon acquired 806 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average cost of $247.99 per share, with a total value of $199,879.94. Following 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works 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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