CIBC Bancorp USA Inc. Takes Position in Illinois Tool Works Inc. $ITW

CIBC Bancorp USA Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 42,525 shares of the industrial products company’s stock, valued at approximately $11,089,000.

A number of other hedge funds also recently bought and sold shares of the business. AE Wealth Management LLC lifted its position in shares of Illinois Tool Works by 128.4% in the 3rd quarter. AE Wealth Management LLC now owns 9,128 shares of the industrial products company’s stock worth $2,380,000 after purchasing an additional 5,131 shares during the period. Madison Asset Management LLC lifted its holdings in Illinois Tool Works by 411.8% in the third quarter. Madison Asset Management LLC now owns 87,875 shares of the industrial products company’s stock worth $22,914,000 after buying an additional 70,704 shares during the period. Mediolanum International Funds Ltd lifted its holdings in Illinois Tool Works by 10.4% in the third quarter. Mediolanum International Funds Ltd now owns 103,161 shares of the industrial products company’s stock worth $26,964,000 after buying an additional 9,738 shares during the period. Brendel Financial Advisors LLC boosted its position in Illinois Tool Works by 1,328.6% during the 3rd quarter. Brendel Financial Advisors LLC now owns 13,929 shares of the industrial products company’s stock valued at $3,632,000 after acquiring an additional 12,954 shares in the last quarter. Finally, Siemens Fonds Invest GmbH grew its holdings in shares of Illinois Tool Works by 70.1% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 18,226 shares of the industrial products company’s stock worth $4,753,000 after acquiring an additional 7,508 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ITW shares. Barclays raised their target price on Illinois Tool Works from $244.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $310.00 to $327.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Truist Financial raised 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. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Wednesday, January 28th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $253.00 target price on shares of Illinois Tool Works in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $275.69.

Insiders Place Their Bets

In other news, EVP Axel Beck sold 4,223 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president directly owned 5,789 shares in the company, valued at $1,680,083.58. This trade represents a 42.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ernest Scott Santi sold 167,345 shares of Illinois Tool Works 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 sale, the director directly 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 disclosure for this sale is available in the SEC filing. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

NYSE ITW opened at $260.65 on Friday. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $303.15. The stock has a 50-day moving average of $276.27 and a 200 day moving average of $260.67. 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 $75.12 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 13.93 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.07 billion. During the same quarter in the prior year, the business earned $2.54 EPS. The business’s revenue for the quarter 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 forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 31st will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, March 31st. Illinois Tool Works’s payout ratio is 61.39%.

Illinois Tool Works Company 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.