Ameriprise Financial Inc. Increases Holdings in Illinois Tool Works Inc. $ITW

Ameriprise Financial Inc. raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,587,639 shares of the industrial products company’s stock after purchasing an additional 33,171 shares during the quarter. Ameriprise Financial Inc. owned 0.89% of Illinois Tool Works worth $674,871,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ITW. Corsicana & Co. purchased a new position in Illinois Tool Works in the 3rd quarter worth about $26,000. Vermillion & White Wealth Management Group LLC raised its stake 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 buying an additional 63 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter valued at $31,000. True Wealth Design LLC boosted its stake in shares of Illinois Tool Works by 341.9% in the 3rd quarter. True Wealth Design LLC now owns 137 shares of the industrial products company’s stock worth $36,000 after buying an additional 106 shares during the last quarter. Finally, MTM Investment Management LLC grew its holdings 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 period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

NYSE:ITW opened at $267.09 on Monday. The business’s 50-day simple moving average is $275.20 and its two-hundred day simple moving average is $260.63. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $303.15. The stock has a market cap of $76.97 billion, a PE ratio of 25.46, a P/E/G ratio of 14.29 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business posted $2.54 earnings per share. The firm’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, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 167,345 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was 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 in the company, valued at $75,282,792.38. This trade represents a 39.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Axel Beck sold 4,223 shares of the company’s stock in a transaction on 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 directly owned 5,789 shares in the company, valued at approximately $1,680,083.58. The trade was a 42.18% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ITW. Evercore reduced their price objective on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research report on Monday, November 17th. Wells Fargo & Company boosted their price target on Illinois Tool Works from $250.00 to $270.00 and gave the company an “underweight” rating in a research note on Wednesday, February 4th. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $255.00 in a research note on Tuesday, November 18th. Citigroup upped their price objective on Illinois Tool Works from $271.00 to $284.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Finally, Wolfe Research raised their target price on Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus target price of $275.69.

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.