Cibc World Market Inc. Has $3.41 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Cibc World Market Inc. reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 48.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,850 shares of the industrial products company’s stock after selling 12,943 shares during the period. Cibc World Market Inc.’s holdings in Illinois Tool Works were worth $3,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITW. Cresta Advisors Ltd. acquired a new position in Illinois Tool Works during the fourth quarter worth about $25,000. Lodestone Wealth Management LLC acquired a new position in Illinois Tool Works during the fourth quarter worth about $28,000. Beacon Financial Strategies CORP acquired a new position in Illinois Tool Works during the fourth quarter worth about $29,000. Ares Financial Consulting LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $31,000. Finally, Basepoint Wealth LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $32,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.0%

ITW opened at $252.60 on Tuesday. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The company has a market cap of $72.67 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 4.34 and a beta of 1.01. The company has a fifty day moving average price of $258.50 and a two-hundred day moving average price of $262.68.

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

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works’s payout ratio is 59.80%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ITW shares. JPMorgan Chase & Co. cut their target price on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Wolfe Research raised their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a research report on Friday, February 27th. Barclays cut their target price on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. Evercore cut their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $271.92.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.83% of the stock is currently owned by insiders.

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.