Illinois Tool Works Inc. $ITW Stock Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 53.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,103 shares of the industrial products company’s stock after purchasing an additional 2,129 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Illinois Tool Works were worth $1,570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Illinois Tool Works in the second quarter worth about $6,296,349,000. State Street Corp lifted its position in shares of Illinois Tool Works by 1.0% in the 2nd quarter. State Street Corp now owns 12,788,570 shares of the industrial products company’s stock worth $3,479,219,000 after purchasing an additional 128,089 shares during the period. Bank of America Corp DE lifted its position in shares of Illinois Tool Works by 2.5% in the 1st quarter. Bank of America Corp DE now owns 3,005,659 shares of the industrial products company’s stock worth $782,343,000 after purchasing an additional 72,951 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Illinois Tool Works during the second quarter valued at approximately $603,166,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Illinois Tool Works by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,045,009 shares of the industrial products company’s stock valued at $532,261,000 after purchasing an additional 60,009 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 0.1%

Shares of ITW stock opened at $288.44 on Thursday. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The firm has a market capitalization of $81.97 billion, a PE ratio of 25.71, a P/E/G ratio of 3.16 and a beta of 0.92. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.94 and a current ratio of 1.29. The stock’s 50-day simple moving average is $272.60 and its 200-day simple moving average is $271.83.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.03. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 103.35%. Illinois Tool Works’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 EPS. Equities analysts expect that Illinois Tool Works Inc. will post 11.49 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 61.32%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lowered Illinois Tool Works from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $350.00 to $270.00 in a research report on Friday, October 9th. Truist Financial reaffirmed a “hold” rating and set a $293.00 price objective (down from $297.00) on shares of Illinois Tool Works in a research report on Wednesday, October 28th. The Goldman Sachs Group reiterated a “sell” rating and issued a $270.00 target price on shares of Illinois Tool Works in a research note on Tuesday, October 27th. Weiss Ratings upgraded shares of Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 28th. Finally, Citigroup decreased their price target on shares of Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus target price of $276.33.

Illinois Tool Works News Roundup

Investors following ITW have been watching these news items:

• Negative Sentiment: Zacks cut its FY2027 EPS estimate to $12.21 from $12.33 and its FY2028 estimate to $13.08 from $13.20. It also reduced forecasts for several quarters, including Q3 2027 ($3.17 from $3.27) and Q3 2028 ($3.39 from $3.48). The revisions could pressure sentiment, although the new annual estimates still imply higher earnings in 2027 and 2028 than the cited current-year consensus of $11.49. Illinois Tool Works analyst estimates

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Santi sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $292.87, for a total value of $17,572,200.00. Following the completion of the transaction, the director directly owned 266,333 shares of the company’s stock, valued at approximately $78,000,945.71. The trade was a 18.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc. (NYSE: ITW) is a diversified manufacturer serving industrial and commercial customers around the world. Founded in 1912, the company is known for its decentralized operating model and focus on specialized products and solutions. ITW’s businesses make products and equipment for a range of markets, including automotive, food service, construction, welding, and testing and measurement. Its offerings include food-service equipment, welding systems and consumables, automotive components, construction products, polymers and fluids, and laboratory and electronics testing equipment.