Waverly Advisors LLC Sells 3,392 Shares of Illinois Tool Works Inc. $ITW

Waverly Advisors LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,090 shares of the industrial products company’s stock after selling 3,392 shares during the quarter. Waverly Advisors LLC’s holdings in Illinois Tool Works were worth $11,476,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Cresta Advisors Ltd. purchased a new stake in Illinois Tool Works during the fourth quarter worth $25,000. Motiv8 Investments LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $27,000. Kemnay Advisory Services Inc. acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $27,000. Lodestone Wealth Management LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at $28,000. Finally, Wilkerson Advisory Group LLC increased its position in Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $282.91 on Monday. The firm has a market capitalization of $81.39 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 4.86 and a beta of 1.00. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a fifty day simple moving average of $262.39 and a 200-day simple moving average of $267.08. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. The business 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%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on ITW. JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Truist Financial upped their target price on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Barclays dropped their price objective on shares of 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. Finally, Wolfe Research reiterated an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $274.00.

Insider Activity at Illinois Tool Works

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

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.