Illinois Tool Works Inc. $ITW Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in Illinois Tool Works Inc. (NYSE:ITW) by 12.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,556 shares of the industrial products company’s stock after selling 4,640 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Illinois Tool Works were worth $8,743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Cresta Advisors Ltd. purchased a new stake in Illinois Tool Works during the fourth quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $27,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth $27,000. Lodestone Wealth Management LLC acquired a new position in Illinois Tool Works during the 4th quarter worth $28,000. Finally, Beacon Financial Strategies CORP acquired a new position in Illinois Tool Works during the 4th quarter worth $29,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $274.07 on Thursday. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. The business has a 50 day simple moving average of $261.16 and a 200-day simple moving average of $266.65. The stock has a market capitalization of $78.85 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 4.67 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. Illinois Tool Works’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities analysts predict that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.3%. Illinois Tool Works’s payout ratio is presently 59.80%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Jennifer F. Scanlon purchased 806 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the purchase, the director directly owned 1,652 shares in the company, valued at $409,679.48. The trade was a 95.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ITW. Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Barclays reduced their price objective on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. Truist Financial lifted their target price on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $274.00.

Illinois Tool Works 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.