Summit Wealth Group LLC Co. Sells 2,114 Shares of Illinois Tool Works Inc. $ITW

Summit Wealth Group LLC Co. cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 64.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,162 shares of the industrial products company’s stock after selling 2,114 shares during the quarter. Summit Wealth Group LLC Co.’s holdings in Illinois Tool Works were worth $286,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Argos Wealth Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $366,000. Meridian Wealth Management LLC increased its position in shares of Illinois Tool Works by 1.3% during the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 37 shares during the last quarter. HighPoint Advisor Group LLC increased its position in shares of Illinois Tool Works by 16.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 20,240 shares of the industrial products company’s stock valued at $4,985,000 after purchasing an additional 2,811 shares during the last quarter. ABC Arbitrage SA increased its position in shares of Illinois Tool Works by 121.0% during the 4th quarter. ABC Arbitrage SA now owns 1,744 shares of the industrial products company’s stock valued at $430,000 after purchasing an additional 955 shares during the last quarter. Finally, HORAN Wealth LLC increased its position in shares of Illinois Tool Works by 0.7% during the 4th quarter. HORAN Wealth LLC now owns 14,618 shares of the industrial products company’s stock valued at $3,600,000 after purchasing an additional 108 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ITW shares. UBS Group reiterated a “neutral” rating and set a $285.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Wells Fargo & Company increased their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Evercore dropped their target price on Illinois Tool Works from $296.00 to $272.00 in a report on Monday. JPMorgan Chase & Co. dropped their target price on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Finally, Truist Financial increased their target price on Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $271.92.

Illinois Tool Works Trading Down 0.5%

NYSE ITW opened at $250.13 on Thursday. The stock has a market cap of $71.96 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 4.32 and a beta of 1.04. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The stock has a 50 day simple moving average of $265.67 and a two-hundred day simple moving average of $261.98. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, analysts forecast that Illinois Tool Works Inc. will post 11.36 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.80%.

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.