Illinois Tool Works Inc. $ITW Shares Sold by Glenmede Investment Management LP

Glenmede Investment Management LP trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 261,155 shares of the industrial products company’s stock after selling 4,411 shares during the quarter. Glenmede Investment Management LP owned approximately 0.09% of Illinois Tool Works worth $68,099,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Corsicana & Co. acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Illinois Tool Works in the 2nd quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC increased its holdings in Illinois Tool Works by 103.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 63 shares in the last quarter. True Wealth Design LLC raised its position in Illinois Tool Works by 341.9% during the third quarter. True Wealth Design LLC now owns 137 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 106 shares during the last quarter. Finally, MTM Investment Management LLC raised its position in Illinois Tool Works by 70.5% during the third quarter. MTM Investment Management LLC now owns 162 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 167,345 shares of the company’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 completion of the transaction, the director directly owned 258,766 shares in the company, valued at approximately $75,282,792.38. This represents a 39.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Axel Beck sold 4,223 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $290.22, for a total value of $1,225,599.06. Following the completion of the sale, the executive vice president directly owned 5,789 shares in the company, valued at approximately $1,680,083.58. The trade was a 42.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ITW. JPMorgan Chase & Co. increased their price target on shares of Illinois Tool Works from $310.00 to $327.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Evercore reduced their target price on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Wells Fargo & Company increased their target price on Illinois Tool Works from $250.00 to $270.00 and gave the company an “underweight” rating in a report on Wednesday, February 4th. Barclays boosted their price target on Illinois Tool Works from $244.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Finally, Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $220.00 to $255.00 in a research report on Tuesday, November 18th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus target price of $275.69.

Illinois Tool Works Stock Performance

Shares of ITW opened at $267.09 on Friday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $303.15. The company’s 50 day simple moving average is $275.20 and its 200 day simple moving average is $260.72. The company has a market capitalization of $76.97 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 14.22 and a beta of 1.13. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.89 and a current ratio of 1.21.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.69 by $0.03. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.07 billion. Illinois Tool Works had a net margin of 19.11% and a return on equity of 95.16%. Illinois Tool Works’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.54 EPS. 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.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Tuesday, March 31st will be given a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is currently 61.39%.

About Illinois Tool Works

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.