Illinois Tool Works Inc. $ITW Stake Cut by Smith Chas P & Associates PA Cpas

by · The Cerbat Gem

Smith Chas P & Associates PA Cpas cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 1.9% in the second quarter, HoldingsChannel reports. The fund owned 130,478 shares of the industrial products company’s stock after selling 2,571 shares during the quarter. Illinois Tool Works accounts for 1.7% of Smith Chas P & Associates PA Cpas’ portfolio, making the stock its 26th biggest holding. Smith Chas P & Associates PA Cpas’ holdings in Illinois Tool Works were worth $35,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in Illinois Tool Works by 23,625.6% during the second quarter. California State Teachers Retirement System now owns 109,530,343 shares of the industrial products company’s stock worth $29,624,672,000 after buying an additional 109,068,689 shares during the last quarter. BlackRock Inc. bought a new position in shares of Illinois Tool Works in the second quarter valued at approximately $6,296,349,000. State Street Corp boosted its holdings in shares of Illinois Tool Works by 1.2% in the 4th 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 position in Illinois Tool Works by 2.7% during the 4th 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. Finally, Capital Research Global Investors increased its holdings in Illinois Tool Works by 3.2% during the 4th 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 purchasing an additional 142,837 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Matteo Pigozzo sold 277 shares of the firm’s 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 owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ernest Santi sold 41,431 shares of Illinois Tool Works stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total value of $11,894,425.79. Following the transaction, the director owned 266,288 shares in the company, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Up 1.1%

Shares of NYSE:ITW traded up $2.88 during midday trading on Friday, hitting $268.08. The company had a trading volume of 1,019,624 shares, compared to its average volume of 1,378,057. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The firm has a fifty day simple moving average of $280.16 and a 200 day simple moving average of $269.63. The stock has a market cap of $76.35 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.58 and a beta of 0.98.

Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.6%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 58.39%.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Weiss Ratings upgraded shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Truist Financial boosted their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, UBS Group restated a “neutral” rating and issued a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $281.25.

Get Our Latest Research Report on ITW

Illinois Tool Works Profile

(Free Report)

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.

Featured Articles

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW – Free Report).