Illinois Tool Works Inc. $ITW Shares Bought by Cyndeo Wealth Partners LLC

by · The Markets Daily

Cyndeo Wealth Partners LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 384.1% during the third quarter, HoldingsChannel.com reports. The firm owned 15,969 shares of the industrial products company’s stock after buying an additional 12,670 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Illinois Tool Works were worth $4,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Illinois Tool Works during the second quarter worth $6,296,349,000. Bank of New York Mellon Corp bought a new stake in Illinois Tool Works in the 2nd quarter valued at $603,166,000. Legal & General Group Plc acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $500,748,000. Deutsche Bank AG acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $221,746,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $209,959,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Santi sold 41,431 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the transaction, the director directly owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. This trade represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. This represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Up 0.5%

NYSE ITW opened at $272.47 on Friday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The firm has a market cap of $77.60 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $273.50 and its 200 day simple moving average is $268.38.

Illinois Tool Works (NYSE:ITW – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 11.42 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend was Wednesday, September 30th. Illinois Tool Works’s payout ratio is currently 62.38%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ITW. Truist Financial decreased their target price on shares of Illinois Tool Works from $308.00 to $297.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. Wolfe Research reissued an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. Weiss Ratings cut shares of Illinois Tool Works from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $273.42.

View Our Latest Analysis on Illinois Tool Works

About Illinois Tool Works

(Free Report)

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces engineered products and systems for customers worldwide. The company serves a broad range of end markets, including automotive, construction, food service, welding, electronics, and general industry.

ITW’s product portfolio includes automotive components and fasteners, commercial food equipment, welding equipment and consumables, test and measurement instruments, electronic components, polymers and fluids, construction fastening systems, and other specialized industrial products.

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