Parr Mcknight Wealth Management Group LLC Sells 2,375 Shares of Illinois Tool Works Inc. $ITW

Parr Mcknight Wealth Management Group LLC lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,731 shares of the industrial products company’s stock after selling 2,375 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in Illinois Tool Works were worth $6,437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITW. Arbejdsmarkedets Tillaegspension increased its stake in shares of Illinois Tool Works by 1.4% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 95,595 shares of the industrial products company’s stock worth $24,882,000 after acquiring an additional 1,288 shares in the last quarter. J. Safra Sarasin Holding AG grew its holdings in Illinois Tool Works by 3.9% in the first quarter. J. Safra Sarasin Holding AG now owns 252,143 shares of the industrial products company’s stock worth $65,630,000 after purchasing an additional 9,491 shares during the period. Procyon Advisors LLC increased its stake in shares of Illinois Tool Works by 8.2% during the first quarter. Procyon Advisors LLC now owns 1,297 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 98 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of Illinois Tool Works during the first quarter valued at approximately $32,000. Finally, Castleview Partners LLC grew its stake in shares of Illinois Tool Works by 18.2% in the 1st quarter. Castleview Partners LLC now owns 1,115 shares of the industrial products company’s stock worth $290,000 after buying an additional 172 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.1%

Illinois Tool Works stock opened at $269.18 on Monday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The stock has a fifty day moving average of $258.05 and a 200 day moving average of $265.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The stock has a market cap of $77.44 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 4.62 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the firm posted $2.38 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, June 30th. Illinois Tool Works’s payout ratio is 59.80%.

Analysts Set New Price Targets

ITW has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a research note on Thursday, April 30th. Barclays reduced their price objective on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. Evercore cut their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, Citigroup boosted their price objective on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $272.85.

Insider Buying and Selling

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average cost 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 approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

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.