Commerce Bank Cuts Stake in Illinois Tool Works Inc. (NYSE:ITW)

18 Apr 2025, 13:58 by Danessa Lincoln · The Markets Daily

Commerce Bank reduced its position in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,660 shares of the industrial products company’s stock after selling 4,539 shares during the quarter. Commerce Bank owned 0.05% of Illinois Tool Works worth $38,455,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ITW. Norges Bank purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $806,291,000. Raymond James Financial Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $203,949,000. Cerity Partners LLC boosted its position in Illinois Tool Works by 263.9% during the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company’s stock valued at $229,269,000 after purchasing an additional 655,341 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Illinois Tool Works by 36,632.9% in the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after purchasing an additional 437,397 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after buying an additional 398,676 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, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ITW shares. Barclays cut their price target on shares of Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Citigroup dropped their price objective on shares of Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Evercore ISI dropped their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $260.09.

Get Our Latest Report on Illinois Tool Works

Illinois Tool Works Stock Up 0.4 %

ITW opened at $230.68 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a market capitalization of $67.67 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.56 and a beta of 1.12. The company has a fifty day moving average of $250.36 and a two-hundred day moving average of $258.12.

Illinois Tool Works (NYSE:ITW – Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Illinois Tool Works Company Profile

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