NewEdge Advisors LLC Sells 4,436 Shares of Illinois Tool Works Inc. $ITW

NewEdge Advisors LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,696 shares of the industrial products company's stock after selling 4,436 shares during the period. NewEdge Advisors LLC's holdings in Illinois Tool Works were worth $9,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Motiv8 Investments LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new position in Illinois Tool Works during the 4th quarter worth $27,000. Continuum Advisory LLC acquired a new stake in shares of Illinois Tool Works during the second quarter worth $29,000. Wilkerson Advisory Group LLC lifted its holdings in shares of Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company's stock worth $31,000 after buying an additional 52 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Illinois Tool Works by 215.0% in the fourth quarter. Meeder Asset Management Inc. now owns 126 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 86 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ITW. Robert W. Baird raised their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Citigroup reissued a "neutral" rating on shares of Illinois Tool Works in a report on Monday, July 13th. Truist Financial raised their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Finally, Wolfe Research reiterated an "underperform" rating and issued a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 9th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $281.25.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $268.08 on Friday. 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 twelve month low of $238.82 and a twelve month high of $303.15. The company has a market cap of $76.35 billion, a P/E ratio of 24.30, a P/E/G ratio of 3.64 and a beta of 0.98. The business has a fifty day simple moving average of $280.06 and a 200 day simple moving average of $269.62.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $4.30 billion for 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 business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 11.43 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued 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 of this dividend is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works's payout ratio is presently 58.39%.

Insider Buying and Selling

In related news, Director Ernest Santi sold 41,431 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the transaction, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. This represents a 13.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matteo Pigozzo sold 277 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the sale, the chief accounting officer owned 3,394 shares in the company, valued at $981,612.68. This represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works Profile

Illinois Tool Works Inc NYSE: ITW is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.

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