GPS Wealth Strategies Group LLC Trims Stake in Illinois Tool Works Inc. $ITW

Key Points

• GPS Wealth Strategies Group LLC cut its stake in Illinois Tool Works by 85.7% in the fourth quarter, selling 5,150 shares and leaving it with 857 shares valued at about $211,000.
• Illinois Tool Works reported better-than-expected quarterly results, with EPS of $2.66 versus the $2.57 estimate and revenue of $4.02 billion, up 4.6% year over year.
• The company also announced a quarterly dividend of $1.61 per share, payable July 10, which works out to an annualized yield of about 2.6%.

GPS Wealth Strategies Group LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 85.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 857 shares of the industrial products company's stock after selling 5,150 shares during the quarter. GPS Wealth Strategies Group LLC's holdings in Illinois Tool Works were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings 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 worth $6,622,322,000 after purchasing an additional 189,229 shares during the period. Capital Research Global Investors grew its holdings in Illinois Tool Works by 3.0% in the third quarter. Capital Research Global Investors now owns 4,493,555 shares of the industrial products company's stock worth $1,171,740,000 after purchasing an additional 131,702 shares during the period. Fisher Asset Management LLC grew its holdings in Illinois Tool Works by 1.5% in the third quarter. Fisher Asset Management LLC now owns 3,650,562 shares of the industrial products company's stock worth $951,921,000 after purchasing an additional 55,416 shares during the period. Ameriprise Financial Inc. grew its holdings in Illinois Tool Works by 1.3% in the third quarter. Ameriprise Financial Inc. now owns 2,587,639 shares of the industrial products company's stock worth $674,871,000 after purchasing an additional 33,171 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Illinois Tool Works by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 2,333,765 shares of the industrial products company's stock worth $608,552,000 after purchasing an additional 7,372 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 1.0%

Shares of Illinois Tool Works stock opened at $252.34 on Friday. The company has a market cap of $72.60 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 4.29 and a beta of 1.04. The company's 50 day moving average is $261.54 and its 200 day moving average is $262.09. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm earned $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. Research analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS 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. Shareholders of record on Tuesday, June 30th will be given a $1.61 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works's dividend payout ratio (DPR) is presently 59.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ITW shares. Truist Financial upped their price objective on shares of Illinois Tool Works from $275.00 to $280.00 and gave the stock a "hold" rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Wolfe Research increased their price target on shares of Illinois Tool Works from $276.00 to $295.00 and gave the company an "underperform" rating in a report on Friday, February 27th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Illinois Tool Works in a report on Monday, April 27th. Finally, Evercore cut their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of "Reduce" and a consensus price target of $271.92.

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.

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