Glenmede Trust Co. NA Sells 4,123 Shares of Illinois Tool Works Inc. $ITW

Glenmede Trust Co. NA cut its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.6% during the 1st quarter, HoldingsChannel reports. The firm owned 255,161 shares of the industrial products company’s stock after selling 4,123 shares during the quarter. Glenmede Trust Co. NA’s holdings in Illinois Tool Works were worth $66,416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meridian Wealth Management LLC increased its position in shares of Illinois Tool Works by 1.3% in the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after buying an additional 37 shares in the last quarter. Winnow Wealth LLC lifted its holdings in Illinois Tool Works by 1.0% during the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after acquiring an additional 37 shares in the last quarter. Crown Wealth Group LLC grew its stake in Illinois Tool Works by 4.0% in the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 37 shares during the period. Revisor Wealth Management LLC raised its position in shares of Illinois Tool Works by 1.4% during the fourth quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock worth $734,000 after purchasing an additional 39 shares during the period. Finally, Concord Asset Management LLC VA lifted its holdings in shares of Illinois Tool Works by 1.1% during the 4th quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock valued at $884,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This represents 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 corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on ITW. 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. JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Illinois Tool Works in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Price Performance

Shares of ITW opened at $287.51 on Friday. The stock has a market capitalization of $82.72 billion, a P/E ratio of 26.07, a P/E/G ratio of 4.83 and a beta of 1.00. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a 50 day moving average of $266.31 and a 200-day moving average of $268.26. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 11.47 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.44 annualized dividend and a yield of 2.2%. Illinois Tool Works’s payout ratio is 58.39%.

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.