Amundi Buys 91,579 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Amundi increased its Illinois Tool Works stake by 8% in the second quarter, purchasing 91,579 shares and bringing its holdings to 1.24 million shares valued at approximately $336.1 million. Institutional investors collectively own 79.77% of ITW.
• Analyst sentiment remains mixed: JPMorgan raised its price target to $350 with an overweight rating, while the broader analyst consensus is “Reduce” with an average target of $281.25.
• Illinois Tool Works exceeded quarterly expectations with $2.84 in earnings per share and $4.30 billion in revenue, while raising its quarterly dividend from $1.61 to $1.72 per share, representing a 2.5% yield.

Amundi lifted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,242,514 shares of the industrial products company's stock after purchasing an additional 91,579 shares during the period. Amundi owned 0.44% of Illinois Tool Works worth $336,063,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Continuum Advisory LLC acquired a new position in shares of Illinois Tool Works during the second quarter valued at $29,000. Motiv8 Investments LLC acquired a new stake in Illinois Tool Works in the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. bought a new stake in Illinois Tool Works during the 4th quarter worth about $27,000. Abound Wealth Management raised its holdings in Illinois Tool Works by 178.6% during the 2nd quarter. Abound Wealth Management now owns 117 shares of the industrial products company's stock worth $32,000 after purchasing an additional 75 shares during the last quarter. Finally, Wilkerson Advisory Group LLC lifted its position in Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group reiterated a "neutral" rating and set a $300.00 price target on shares of Illinois Tool Works in a research report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Citigroup reaffirmed a "neutral" rating on shares of Illinois Tool Works in a research note on Monday, July 13th. 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 report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Illinois Tool Works from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Illinois Tool Works presently has an average rating of "Reduce" and an average price target of $281.25.

Illinois Tool Works Trading Down 0.0%

Shares of NYSE:ITW opened at $269.99 on Tuesday. The firm has a market cap of $76.89 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 3.66 and a beta of 0.98. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company's fifty day simple moving average is $280.45 and its 200 day simple moving average is $270.24. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, research analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed 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. This represents a $6.88 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works's payout ratio is currently 58.39%.

Insider Transactions at Illinois Tool Works

In related news, Director Ernest Santi sold 41,431 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the transaction, the director owned 266,288 shares in the company, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the transaction, the chief accounting officer directly owned 3,394 shares of the company's stock, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is currently owned by company insiders.

Illinois Tool Works 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.

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