UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 200,819 Shares of Illinois Tool Works Inc. $ITW

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,531,132 shares of the industrial products company’s stock after selling 200,819 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.54% of Illinois Tool Works worth $414,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth about $6,296,349,000. State Street Corp grew its holdings in Illinois Tool Works by 1.2% in the 4th quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock valued at $3,122,535,000 after buying an additional 151,864 shares during the last quarter. Geode Capital Management LLC grew its holdings in Illinois Tool Works by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock valued at $1,709,734,000 after buying an additional 184,301 shares during the last quarter. Capital Research Global Investors increased its position in Illinois Tool Works by 3.2% in the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock worth $1,141,948,000 after buying an additional 142,837 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock worth $912,562,000 after buying an additional 54,519 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ITW shares. Robert W. Baird raised 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 note on Wednesday, July 29th. Wells Fargo & Company upped 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 note on Monday, May 4th. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Truist Financial boosted their price objective 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. Finally, UBS Group reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $281.25.

Insider Activity at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 41,431 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total value of $11,894,425.79. Following the sale, the director directly owned 266,288 shares in the company, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jennifer F. Scanlon bought 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, with a total value of $199,879.94. Following the completion of the acquisition, the director owned 1,652 shares in the company, valued at $409,679.48. This represents a 95.27% increase in their position. The SEC filing for this purchase provides additional information. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Stock Performance

ITW opened at $280.19 on Monday. The stock’s 50 day simple moving average is $279.88 and its 200-day simple moving average is $271.36. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The stock has a market cap of $79.80 billion, a PE ratio of 25.40, a P/E/G ratio of 4.73 and a beta of 0.99. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year 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 the consensus estimate 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 analysts’ expectations of $4.19 billion. During the same period last year, the business earned $2.58 earnings per share. Illinois Tool Works’s quarterly revenue was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.72 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.39%.

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.