Smithbridge Asset Management Inc. DE Buys 2,590 Shares of Illinois Tool Works Inc. $ITW

Smithbridge Asset Management Inc. DE raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 100.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,180 shares of the industrial products company’s stock after purchasing an additional 2,590 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Illinois Tool Works were worth $1,276,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Siemens Fonds Invest GmbH lifted its holdings in shares of Illinois Tool Works by 70.1% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 18,226 shares of the industrial products company’s stock worth $4,753,000 after acquiring an additional 7,508 shares during the period. Madison Asset Management LLC lifted its position in shares of Illinois Tool Works by 411.8% during the 3rd quarter. Madison Asset Management LLC now owns 87,875 shares of the industrial products company’s stock worth $22,914,000 after buying an additional 70,704 shares during the period. Hudson Bay Capital Management LP lifted its position in shares of Illinois Tool Works by 123.4% during the 3rd quarter. Hudson Bay Capital Management LP now owns 23,063 shares of the industrial products company’s stock worth $6,014,000 after buying an additional 12,741 shares during the period. Gradient Investments LLC lifted its position in shares of Illinois Tool Works by 691.3% during the 4th quarter. Gradient Investments LLC now owns 62,677 shares of the industrial products company’s stock worth $15,437,000 after buying an additional 54,756 shares during the period. Finally, Y.D. More Investments Ltd bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $2,498,000. 79.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ITW shares. JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Citigroup raised their target price on Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Weiss Ratings downgraded shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Finally, Barclays cut their price target on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. One research 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. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $271.92.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon bought 806 shares of the company’s stock in a transaction on 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 purchase, the director owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Trading Down 2.3%

Shares of ITW opened at $250.60 on Thursday. The stock has a fifty day moving average price of $258.36 and a two-hundred day moving average price of $262.86. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a market cap of $72.10 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 4.41 and a beta of 1.01.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $2.38 EPS. The business’s revenue for the quarter 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 announced 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is currently 59.80%.

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.