CHICAGO TRUST Co NA Sells 2,320 Shares of Illinois Tool Works Inc. $ITW

CHICAGO TRUST Co NA trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 24.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,204 shares of the industrial products company’s stock after selling 2,320 shares during the period. CHICAGO TRUST Co NA’s holdings in Illinois Tool Works were worth $1,875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ITW. Vanguard Group Inc. increased its position in Illinois Tool Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock valued at $6,622,322,000 after buying an additional 189,229 shares in the last quarter. State Street Corp boosted its holdings in Illinois Tool Works by 1.2% in the fourth quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock worth $3,122,535,000 after acquiring an additional 151,864 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Illinois Tool Works by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after acquiring an additional 184,301 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Illinois Tool Works by 3.2% during the fourth quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after acquiring an additional 142,837 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Illinois Tool Works by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock valued at $912,562,000 after acquiring an additional 54,519 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITW. Citigroup upped their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Evercore decreased their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. JPMorgan Chase & Co. dropped their target price on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Weiss Ratings cut shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $271.92.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $268.93 on Thursday. The firm’s 50-day moving average price is $257.95 and its 200-day moving average price is $264.49. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a market cap of $77.37 billion, a PE ratio of 24.97, a PEG ratio of 4.65 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm earned $2.38 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. 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 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared 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. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio is presently 59.80%.

Insider Activity

In other news, Director Jennifer F. Scanlon purchased 806 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is currently owned by company insiders.

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.