Comerica Bank Sells 2,370 Shares of Illinois Tool Works Inc. $ITW

Comerica Bank lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,343 shares of the industrial products company’s stock after selling 2,370 shares during the period. Comerica Bank’s holdings in Illinois Tool Works were worth $15,848,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ITW. Lodestone Wealth Management LLC bought a new position in Illinois Tool Works during the 4th quarter worth $28,000. Beacon Financial Strategies CORP bought a new position in Illinois Tool Works during the 4th quarter worth $29,000. True Wealth Design LLC increased its stake in Illinois Tool Works by 341.9% during the 3rd 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 period. MTM Investment Management LLC increased its stake in Illinois Tool Works by 70.5% during the 3rd 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. Finally, Financial Consulate Inc. bought a new position in Illinois Tool Works during the 3rd quarter worth $43,000. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Wednesday, January 28th. Barclays lowered their price objective on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. UBS Group reaffirmed a “neutral” rating and issued a $285.00 target price on shares of Illinois Tool Works in a report on Wednesday, February 4th. Robert W. Baird set a $278.00 target price on Illinois Tool Works in a report on Wednesday, February 4th. Finally, Citigroup raised their target price on Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and a consensus price target of $270.00.

Insider Activity

In other Illinois Tool Works news, EVP Axel Beck sold 4,223 shares of Illinois Tool Works 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 directly owned 5,789 shares of the company’s stock, valued at approximately $1,680,083.58. The trade was a 42.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Scott Santi sold 167,345 shares of Illinois Tool Works stock in a transaction dated 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 directly owned 258,766 shares in the company, valued at $75,282,792.38. The trade was a 39.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

Shares of ITW opened at $268.72 on Wednesday. Illinois Tool Works Inc. has a 12-month low of $228.76 and a 12-month high of $303.15. The business has a 50-day simple moving average of $272.27 and a two-hundred day simple moving average of $261.65. 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 has a market cap of $77.41 billion, a PE ratio of 25.62, a PEG ratio of 4.84 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 EPS for the quarter, topping the consensus estimate of $2.69 by $0.03. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.07 billion. Illinois Tool Works had a return on equity of 95.16% and a net margin of 19.11%.The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 11.26 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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