Smith Chas P & Associates PA Cpas Has $29.50 Million Position in Illinois Tool Works Inc. $ITW

Key Points

• Smith Chas P & Associates PA Cpas increased its Illinois Tool Works stake by 46% in the fourth quarter, ending with 119,771 shares valued at about $29.5 million.
• Illinois Tool Works reported solid quarterly results, with EPS of $2.66 topping estimates and revenue of $4.02 billion, up 4.6% from a year ago.
• The company declared a quarterly dividend of $1.61 per share, while analysts currently have a consensus rating of “Reduce” and an average price target of $271.92.

Smith Chas P & Associates PA Cpas lifted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 46.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,771 shares of the industrial products company's stock after purchasing an additional 37,720 shares during the period. Illinois Tool Works accounts for 1.6% of Smith Chas P & Associates PA Cpas' portfolio, making the stock its 27th largest position. Smith Chas P & Associates PA Cpas' holdings in Illinois Tool Works were worth $29,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of ITW. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Illinois Tool Works by 1,517.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company's stock valued at $96,062,000 after purchasing an additional 365,915 shares in the last quarter. Caisse de depot et placement du Quebec increased its holdings in shares of Illinois Tool Works by 293.0% in the third quarter. Caisse de depot et placement du Quebec now owns 424,547 shares of the industrial products company's stock valued at $110,705,000 after purchasing an additional 316,512 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Illinois Tool Works by 316.3% in the fourth quarter. SG Americas Securities LLC now owns 366,012 shares of the industrial products company's stock valued at $90,149,000 after purchasing an additional 278,085 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Illinois Tool Works by 161.3% in the third quarter. Marshall Wace LLP now owns 400,152 shares of the industrial products company's stock valued at $104,344,000 after purchasing an additional 246,994 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Illinois Tool Works by 10.7% in the fourth quarter. UBS Group AG now owns 2,101,383 shares of the industrial products company's stock valued at $517,571,000 after purchasing an additional 203,863 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Price Performance

ITW opened at $250.65 on Thursday. The company has a fifty day moving average price of $260.59 and a two-hundred day moving average price of $262.36. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The firm has a market capitalization of $72.11 billion, a PE ratio of 23.27, a P/E/G ratio of 4.30 and a beta of 1.04.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business earned $2.38 EPS. The firm's 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. As a group, analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors 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 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works's dividend payout ratio is currently 59.80%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Robert W. Baird set a $278.00 price target on shares of Illinois Tool Works in a report on Wednesday, February 4th. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an "underweight" rating in a report on Monday, May 4th. Wolfe Research lifted their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the stock an "underperform" rating in a report on Friday, February 27th. JPMorgan Chase & Co. lowered their target price on shares of Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 1st. Finally, Truist Financial lifted their target price 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. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $271.92.

Illinois Tool Works 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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