2,129 Illinois Tool Works Inc. $ITW Shares Acquired by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 53.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,103 shares of the industrial products company’s stock after buying an additional 2,129 shares during the period. Confluence Wealth Services Inc.’s holdings in Illinois Tool Works were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. boosted its holdings in Illinois Tool Works by 1.2% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 29,903 shares of the industrial products company’s stock worth $7,693,000 after buying an additional 363 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. raised its stake in Illinois Tool Works by 5.2% in the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 24,424 shares of the industrial products company’s stock valued at $6,324,000 after purchasing an additional 1,215 shares during the last quarter. Lido Advisors LLC raised its stake in Illinois Tool Works by 17.3% in the 3rd quarter. Lido Advisors LLC now owns 33,775 shares of the industrial products company’s stock valued at $8,690,000 after purchasing an additional 4,986 shares during the last quarter. Keybank National Association OH lifted its holdings in Illinois Tool Works by 1.3% in the 3rd quarter. Keybank National Association OH now owns 48,230 shares of the industrial products company’s stock valued at $12,409,000 after purchasing an additional 641 shares in the last quarter. Finally, D Orazio & Associates Inc. lifted its holdings in Illinois Tool Works by 3.0% in the 3rd quarter. D Orazio & Associates Inc. now owns 1,823 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions 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 sale, the director owned 266,333 shares of the company’s stock, valued at $78,000,945.71. The trade was a 18.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Trading Up 0.1%

Shares of ITW stock opened at $288.44 on Thursday. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The firm has a market cap of $81.97 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.16 and a beta of 0.92. The company has a 50-day moving average of $272.60 and a two-hundred day moving average of $271.83. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.29 and a quick ratio of 0.94.

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

Illinois Tool Works Announces Dividend

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

Key Illinois Tool Works News

These are some of the ITW news items that stood out recently:

• 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

Analysts Set New Price Targets

ITW has been the topic of several recent research reports. Robert W. Baird lifted their target price 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. JPMorgan Chase & Co. cut shares of Illinois Tool Works from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $350.00 to $270.00 in a research report on Friday, October 9th. Citigroup decreased their price target on shares of Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Deutsche Bank lowered their price target on shares of Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. Finally, 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 note on Wednesday, October 28th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $276.33.

Illinois Tool Works Profile

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.