Confluence Investment Management LLC Reduces Stock Holdings in Illinois Tool Works Inc. $ITW

Confluence Investment Management LLC reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,034 shares of the industrial products company’s stock after selling 14,125 shares during the period. Confluence Investment Management LLC’s holdings in Illinois Tool Works were worth $52,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Brighton Jones LLC boosted its stake in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares in the last quarter. Bison Wealth LLC lifted its stake in shares of Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after buying an additional 81 shares during the period. Sivia Capital Partners LLC increased its position in shares of Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 177 shares during the period. Sei Investments Co. raised its stake in Illinois Tool Works by 22.0% in the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock worth $26,401,000 after acquiring an additional 19,248 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Illinois Tool Works by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after acquiring an additional 2,890 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Wells Fargo & Company lifted their target price on Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Monday, May 4th. Truist Financial increased their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. 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. Finally, Robert W. Baird upped their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. Based on 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 Stock Performance

NYSE ITW opened at $288.47 on Tuesday. The firm has a market capitalization of $82.99 billion, a P/E ratio of 26.15, a PEG ratio of 4.84 and a beta of 0.99. The stock has a 50-day simple moving average of $267.03 and a two-hundred day simple moving average of $268.58. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued its earnings results 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. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 11.46 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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

Insiders Place Their Bets

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, the director owned 1,652 shares of the company’s stock, valued at $409,679.48. This trade represents a 95.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.83% of the company’s stock.

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.