CIBC Private Wealth Group LLC Sells 2,572 Shares of Illinois Tool Works Inc. $ITW

CIBC Private Wealth Group LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 140,087 shares of the industrial products company’s stock after selling 2,572 shares during the period. CIBC Private Wealth Group LLC’s holdings in Illinois Tool Works were worth $36,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Corsicana & Co. acquired a new position in shares of Illinois Tool Works during the third quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC grew its position in Illinois Tool Works by 103.3% in 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 purchasing an additional 63 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Illinois Tool Works in the 2nd quarter valued at $31,000. 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 valued at $36,000 after purchasing an additional 106 shares in the last quarter. Finally, MTM Investment Management LLC raised its holdings in Illinois Tool Works by 70.5% during the third quarter. MTM Investment Management LLC now owns 162 shares of the industrial products company’s stock worth $42,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $260.65 on Friday. The company has a market capitalization of $75.12 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 13.93 and a beta of 1.13. The company’s 50-day moving average is $276.27 and its 200 day moving average is $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. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.07 billion. Illinois Tool Works had a net margin of 19.11% and a return on equity of 95.16%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.54 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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

Insider Activity 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 stock was sold at an average price of $290.93, for a total value of $48,685,680.85. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available through 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 directly owned 5,789 shares in the company, valued at approximately $1,680,083.58. This trade represents a 42.18% decrease in their ownership of the stock. 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 analysts have weighed in on the stock. Robert W. Baird set a $278.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, February 4th. Wolfe Research upped their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $250.00 to $270.00 and gave the company an “underweight” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Wednesday, January 28th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $253.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, February 3rd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target 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.