Lazard Asset Management LLC Has $61.54 Million Holdings in Illinois Tool Works Inc. $ITW

Lazard Asset Management LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,429 shares of the industrial products company’s stock after selling 49,486 shares during the quarter. Lazard Asset Management LLC owned 0.08% of Illinois Tool Works worth $61,540,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ITW. Cresta Advisors Ltd. bought a new position in Illinois Tool Works during the 4th quarter worth $25,000. Motiv8 Investments LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth $28,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth $31,000. 79.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Jennifer F. Scanlon purchased 806 shares of the company’s 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 owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ITW. The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Evercore decreased their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. Barclays reduced their price target 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. Finally, Truist Financial lifted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $274.00.

Illinois Tool Works Stock Up 0.7%

Shares of NYSE ITW opened at $285.12 on Tuesday. The company has a market cap of $82.03 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 4.86 and a beta of 1.00. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The stock has a 50-day moving average price of $263.11 and a two-hundred day moving average price of $267.30.

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 analysts’ consensus estimates of $2.57 by $0.09. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. 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. As a group, analysts forecast that Illinois Tool Works Inc. will post 11.37 earnings per share 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 paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s payout ratio is presently 59.80%.

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.