Illinois Tool Works Inc. $ITW Stake Cut by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,174 shares of the industrial products company’s stock after selling 2,299 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Illinois Tool Works were worth $35,248,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Corsicana & Co. acquired a new position in Illinois Tool Works in the 3rd quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter valued at $31,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of 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 increased its stake in shares of Illinois Tool Works by 341.9% in 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 increased its stake in shares of Illinois Tool Works by 70.5% in 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. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

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

Analysts Set New Price Targets

A number of research firms recently issued reports on ITW. Truist Financial lifted their price objective on Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Wells Fargo & Company raised their price target on Illinois Tool Works from $250.00 to $270.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Wednesday, January 28th. Citigroup increased their price objective on Illinois Tool Works from $271.00 to $284.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Finally, Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Two investment 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’s stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average price target of $275.69.

Illinois Tool Works Stock Up 0.6%

Shares of ITW stock opened at $267.09 on Friday. The stock’s 50 day simple moving average is $275.20 and its 200 day simple moving average is $260.72. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $303.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.89 and a current ratio of 1.21. 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.

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

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 31st will be paid a $1.61 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 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.