Chesley Taft & Associates LLC Decreases Stake in Illinois Tool Works Inc. $ITW

Chesley Taft & Associates LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,412 shares of the industrial products company’s stock after selling 3,493 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Illinois Tool Works were worth $20,126,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms recently commented on ITW. UBS Group reissued a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Evercore lowered their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. 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. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. Finally, Wolfe Research restated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. One 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 stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and a consensus price target of $281.25.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon purchased 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $247.99 per share, for a total transaction 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. This represents a 95.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.83% of the company’s stock.

Illinois Tool Works Trading Up 0.7%

NYSE:ITW opened at $296.63 on Friday. The stock has a market cap of $85.34 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 4.97 and a beta of 0.99. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. The business’s 50-day simple moving average is $270.76 and its 200 day simple moving average is $269.49.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter last year, the firm earned $2.58 EPS. Illinois Tool Works’s quarterly revenue 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, sell-side analysts predict that Illinois Tool Works Inc. will post 11.46 earnings per share for the current fiscal year.

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.