NewEdge Advisors LLC Decreases Holdings in Illinois Tool Works Inc. $ITW

Key Points

• NewEdge Advisors reduced its Illinois Tool Works stake by 25.5% in the first quarter, selling 13,038 shares and retaining 38,132 shares valued at approximately $9.9 million. Institutional investors own 79.77% of ITW.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $281.25. JPMorgan raised its target to $350 and assigned an overweight rating, while UBS and Citigroup maintained neutral views.
• Illinois Tool Works exceeded quarterly earnings and revenue expectations, reporting $2.84 EPS and $4.30 billion in revenue, while raising its quarterly dividend to $1.72 per share, representing a 2.3% yield.

NewEdge Advisors LLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 25.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,132 shares of the industrial products company's stock after selling 13,038 shares during the period. NewEdge Advisors LLC's holdings in Illinois Tool Works were worth $9,925,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ITW. Optiver Holding B.V. bought a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $153,000. Vestor Capital LLC boosted its stake in Illinois Tool Works by 2,538.3% during the first quarter. Vestor Capital LLC now owns 14,484 shares of the industrial products company's stock worth $3,770,000 after buying an additional 13,935 shares during the period. Groupe la Francaise increased its position in Illinois Tool Works by 7.7% during the first quarter. Groupe la Francaise now owns 29,148 shares of the industrial products company's stock valued at $7,587,000 after acquiring an additional 2,087 shares during the last quarter. Western Wealth Management LLC increased its position in Illinois Tool Works by 5.6% during the first quarter. Western Wealth Management LLC now owns 2,043 shares of the industrial products company's stock valued at $532,000 after acquiring an additional 109 shares during the last quarter. Finally, Paragon Private Wealth Management LLC raised its stake in shares of Illinois Tool Works by 3.8% in the first quarter. Paragon Private Wealth Management LLC now owns 5,574 shares of the industrial products company's stock valued at $1,451,000 after acquiring an additional 206 shares during the period. 79.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ITW. UBS Group reaffirmed a "neutral" rating and set a $300.00 price target on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Citigroup reaffirmed a "neutral" rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Truist Financial raised their price target on Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. increased their target price on Illinois Tool Works from $310.00 to $350.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Finally, The Goldman Sachs Group reissued a "sell" rating and set a $254.00 target price on shares of Illinois Tool Works in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $281.25.

Illinois Tool Works Price Performance

NYSE ITW opened at $296.63 on Monday. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The firm's 50 day moving average price is $270.76 and its 200-day moving average price is $269.53. The company has a market cap of $85.34 billion, a PE ratio of 26.89, a P/E/G ratio of 5.01 and a beta of 0.99. 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 (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 11.46 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. 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 dividend yield of 2.3%. Illinois Tool Works's dividend payout ratio (DPR) is presently 58.39%.

Insider Buying and Selling

In other news, Director Jennifer F. Scanlon bought 806 shares of the 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 purchase, the director directly owned 1,652 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by insiders.

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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