ABC Arbitrage SA Decreases Stock Holdings in Illinois Tool Works Inc. $ITW

ABC Arbitrage SA lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 82.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 789 shares of the industrial products company’s stock after selling 3,657 shares during the quarter. ABC Arbitrage SA’s holdings in Illinois Tool Works were worth $206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ITW. Northcape Wealth Management LLC increased its stake in shares of Illinois Tool Works by 2.1% in the 2nd quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 40 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Illinois Tool Works by 4.2% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 988 shares of the industrial products company’s stock valued at $244,000 after buying an additional 40 shares in the last quarter. Freedom Investment Management Inc. increased its holdings in Illinois Tool Works by 3.0% in the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 42 shares during the last quarter. Everpar Advisors LLC lifted its position in shares of Illinois Tool Works by 1.7% in the third quarter. Everpar Advisors LLC now owns 2,574 shares of the industrial products company’s stock worth $671,000 after buying an additional 42 shares in the last quarter. Finally, EPG Wealth Management LLC raised its holdings in shares of Illinois Tool Works by 1.1% during the 2nd quarter. EPG Wealth Management LLC now owns 3,893 shares of the industrial products company’s stock worth $963,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.3%

Shares of ITW opened at $298.07 on Thursday. The company has a market capitalization of $86.47 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 15.76 and a beta of 1.15. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.07. The stock’s 50-day moving average price is $259.54 and its 200-day moving average price is $256.50. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $299.90.

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

Analyst Upgrades and Downgrades

ITW has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “sell” rating and issued a $253.00 price target on shares of Illinois Tool Works in a research report on Tuesday, February 3rd. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $255.00 in a report on Tuesday, November 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Wednesday, January 28th. UBS Group reissued a “neutral” rating and issued a $285.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Illinois Tool Works from $275.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $272.92.

Insider Activity

In other Illinois Tool Works news, Director Ernest Scott Santi sold 167,345 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total value of $48,685,680.85. Following the transaction, the director owned 258,766 shares in the company, valued at approximately $75,282,792.38. This trade represents a 39.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Axel Beck sold 4,223 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the transaction, the executive vice president owned 5,789 shares in the company, valued at $1,680,083.58. The trade was a 42.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is 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.