Confluence Investment Management LLC Sells 14,939 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Confluence Investment Management cut its Illinois Tool Works stake by 7.7%, selling 14,939 shares in the third quarter and retaining 178,095 shares valued at approximately $45.8 million. Institutional investors collectively own 79.77% of ITW.
• Illinois Tool Works reported quarterly results above expectations, with earnings of $2.84 per share and revenue of $4.30 billion, up 6.1% year over year. The company also raised its quarterly dividend from $1.61 to $1.72 per share, producing an annualized yield of about 2.6%.
• Analyst sentiment remains cautious: ITW has a consensus rating of “Reduce” and an average price target of $282.33, despite JPMorgan raising its target to $350 and assigning an overweight rating.

Confluence Investment Management LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,095 shares of the industrial products company's stock after selling 14,939 shares during the quarter. Confluence Investment Management LLC owned 0.06% of Illinois Tool Works worth $45,820,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ITW. Continuum Advisory LLC acquired a new stake in shares of Illinois Tool Works in the second quarter valued at approximately $29,000. Abound Wealth Management boosted its stake in Illinois Tool Works by 178.6% in the second quarter. Abound Wealth Management now owns 117 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 75 shares during the last quarter. Wilkerson Advisory Group LLC grew its holdings in Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company's stock worth $31,000 after acquiring an additional 52 shares during the period. Tacita Capital Inc bought a new stake in shares of Illinois Tool Works during the 2nd quarter valued at $32,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Illinois Tool Works in the 2nd quarter worth $33,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 1.5%

ITW traded up $3.76 during trading on Thursday, hitting $261.04. The company had a trading volume of 442,471 shares, compared to its average volume of 1,379,160. The firm's 50-day moving average price is $279.27 and its 200 day moving average price is $268.21. The company has a market capitalization of $74.35 billion, a PE ratio of 23.64, a PEG ratio of 2.86 and a beta of 0.98. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.19 billion. During the same period in the prior year, the firm earned $2.58 earnings per share. Illinois Tool Works's revenue for the quarter was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities analysts expect that Illinois Tool Works Inc. will post 11.44 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid 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 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works's dividend payout ratio (DPR) is currently 58.39%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Santi sold 41,431 shares of the company's stock in a transaction on 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 transaction, the director directly owned 266,288 shares of the company's stock, valued at $76,448,621.92. This represents a 13.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Matteo Pigozzo sold 277 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the sale, the chief accounting officer owned 3,394 shares in the company, valued at $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

ITW has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Illinois Tool Works from $310.00 to $350.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Robert W. Baird upped their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. UBS Group reiterated a "neutral" rating and issued a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Illinois Tool Works from $287.00 to $281.00 and set a "hold" rating for the company in a report on Wednesday. Finally, Wolfe Research reaffirmed an "underperform" rating and set a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Two investment 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $282.33.

Illinois Tool Works Profile

Illinois Tool Works Inc NYSE: ITW is a diversified industrial manufacturer that develops and produces engineered products and systems for customers worldwide. The company serves a broad range of end markets, including automotive, construction, food service, welding, electronics, and general industry.

ITW's product portfolio includes automotive components and fasteners, commercial food equipment, welding equipment and consumables, test and measurement instruments, electronic components, polymers and fluids, construction fastening systems, and other specialized industrial products.

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