CIBC Private Wealth Group LLC Lowers Holdings in Illinois Tool Works Inc. $ITW

CIBC Private Wealth Group LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 140,087 shares of the industrial products company’s stock after selling 2,572 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Illinois Tool Works were worth $36,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Corsicana & Co. bought a new stake in Illinois Tool Works during the third quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC lifted its stake in Illinois Tool Works by 103.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 63 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $31,000. True Wealth Design LLC boosted its stake in shares of Illinois Tool Works by 341.9% during the third quarter. True Wealth Design LLC now owns 137 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 106 shares during the period. Finally, MTM Investment Management LLC boosted its position in Illinois Tool Works by 70.5% during the 3rd quarter. MTM Investment Management LLC now owns 162 shares of the industrial products company’s stock valued at $42,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.0%

Shares of Illinois Tool Works stock opened at $260.65 on Friday. The company’s fifty day simple moving average is $276.27 and its 200-day simple moving average is $260.67. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $303.15. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.21 and a quick ratio of 0.89. The stock has a market capitalization of $75.12 billion, a PE ratio of 24.85, a P/E/G ratio of 13.93 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.03. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.07 billion. Illinois Tool Works had a return on equity of 95.16% and a net margin of 19.11%.The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 31st will be issued a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio is currently 61.39%.

Insiders Place Their Bets

In other Illinois Tool Works news, EVP Axel Beck sold 4,223 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the sale, the executive vice president directly owned 5,789 shares of the company’s stock, valued at $1,680,083.58. This trade represents a 42.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ernest Scott Santi sold 167,345 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $290.93, for a total value of $48,685,680.85. Following the completion of the transaction, the director owned 258,766 shares in the company, valued at $75,282,792.38. The trade was a 39.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ITW shares. Barclays increased their price objective on Illinois Tool Works from $244.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $250.00 to $270.00 and gave the company an “underweight” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a report on Wednesday, January 28th. The Goldman Sachs Group reiterated a “sell” rating and issued a $253.00 target price on shares of Illinois Tool Works in a research note on Tuesday, February 3rd. Finally, UBS Group reaffirmed a “neutral” rating and set a $285.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and an average target price of $275.69.

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.