Chesley Taft & Associates LLC Sells 2,083 Shares of Illinois Tool Works Inc. $ITW

Chesley Taft & Associates LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 78,259 shares of the industrial products company’s stock after selling 2,083 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Illinois Tool Works were worth $19,275,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ITW. State Street Corp raised its holdings in Illinois Tool Works by 0.9% in the 2nd quarter. State Street Corp now owns 12,476,310 shares of the industrial products company’s stock valued at $3,103,167,000 after acquiring an additional 108,919 shares during the period. Capital Research Global Investors boosted its holdings in shares of Illinois Tool Works by 3.0% during the third quarter. Capital Research Global Investors now owns 4,493,555 shares of the industrial products company’s stock worth $1,171,740,000 after acquiring an additional 131,702 shares during the period. Fisher Asset Management LLC grew its position in shares of Illinois Tool Works by 1.5% in the third quarter. Fisher Asset Management LLC now owns 3,650,562 shares of the industrial products company’s stock valued at $951,921,000 after purchasing an additional 55,416 shares during the last quarter. Norges Bank bought a new position in shares of Illinois Tool Works during the second quarter worth approximately $821,888,000. Finally, Ameriprise Financial Inc. lifted its holdings in Illinois Tool Works by 1.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,587,639 shares of the industrial products company’s stock worth $674,871,000 after purchasing an additional 33,171 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $258.48 on Friday. The business has a fifty day moving average price of $276.69 and a two-hundred day moving average price of $260.56. The stock has a market capitalization of $74.49 billion, a PE ratio of 24.64, a P/E/G ratio of 13.84 and a beta of 1.13. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.21 and a quick ratio of 0.89. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $303.15.

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

Illinois Tool Works Dividend Announcement

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

Insider Activity at Illinois Tool Works

In other news, EVP Axel Beck sold 4,223 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $290.22, for a total value of $1,225,599.06. Following the completion of the transaction, the executive vice president directly owned 5,789 shares in the company, valued at approximately $1,680,083.58. The trade was a 42.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 167,345 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the sale, the director owned 258,766 shares in the company, valued at $75,282,792.38. This represents a 39.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ITW. JPMorgan Chase & Co. upped their price objective on Illinois Tool Works from $310.00 to $327.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Wolfe Research lifted their target price on Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. The Goldman Sachs Group restated a “sell” rating and issued a $253.00 price target on shares of Illinois Tool Works in a research note on Tuesday, February 3rd. Barclays raised their price target on shares of Illinois Tool Works from $244.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Finally, Citigroup lifted their price objective on shares of Illinois Tool Works from $271.00 to $284.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $275.69.

About Illinois Tool Works

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.