Rathbones Group PLC Sells 6,680 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Rathbones Group PLC cut its Illinois Tool Works stake by 29.5% in the fourth quarter, selling 6,680 shares and leaving it with 15,962 shares valued at about $3.93 million.
• Several analysts remain cautious on ITW: the stock has a consensus rating of "Reduce" with an average price target of $271.92, despite a few firms recently raising their targets.
• Illinois Tool Works reported better-than-expected quarterly results, with EPS of $2.66 versus $2.57 expected and revenue of $4.02 billion, while also announcing a quarterly dividend of $1.61 per share.

Rathbones Group PLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 29.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,962 shares of the industrial products company's stock after selling 6,680 shares during the period. Rathbones Group PLC's holdings in Illinois Tool Works were worth $3,931,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ITW. Brighton Jones LLC raised its stake in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock worth $1,399,000 after buying an additional 277 shares in the last quarter. Bison Wealth LLC raised its stake in Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock worth $901,000 after buying an additional 81 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Illinois Tool Works by 20.6% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock worth $257,000 after buying an additional 177 shares in the last quarter. Sei Investments Co. raised its stake in Illinois Tool Works by 22.0% in the second quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company's stock worth $26,401,000 after buying an additional 19,248 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Illinois Tool Works by 2.2% in the second 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 buying an additional 2,890 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ITW. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an "underweight" rating in a research note on Monday, May 4th. Truist Financial boosted their price objective on shares of Illinois Tool Works from $275.00 to $280.00 and gave the stock a "hold" rating in a research note on Wednesday, February 4th. The Goldman Sachs Group reissued a "sell" rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Citigroup lifted their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. 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 research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $271.92.

Illinois Tool Works Price Performance

NYSE ITW opened at $252.34 on Friday. The firm's fifty day simple moving average is $261.54 and its two-hundred day simple moving average is $262.09. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The firm has a market capitalization of $72.60 billion, a P/E ratio of 23.43, a P/E/G ratio of 4.29 and a beta of 1.04.

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 (EPS) 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 analyst estimates of $4.01 billion. During the same period in the previous year, the company earned $2.38 earnings per share. The business's revenue for the quarter 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. Analysts forecast that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works's payout ratio is 59.80%.

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.

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.