Arrowstreet Capital Limited Partnership Purchases 24,179 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Arrowstreet Capital boosted its Illinois Tool Works stake by 1.8% in the first quarter, buying 24,179 shares and bringing its total holding to 1,343,736 shares worth about $349.8 million.
• Illinois Tool Works reported better-than-expected quarterly earnings of $2.66 per share on revenue of $4.02 billion, and it also raised its FY 2026 EPS guidance to 11.10-11.50.
• The company paid a quarterly dividend of $1.61 per share, equal to an annualized yield of about 2.3%, while analysts currently have a consensus rating of Reduce with an average price target of $274.

Arrowstreet Capital Limited Partnership increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,343,736 shares of the industrial products company's stock after buying an additional 24,179 shares during the period. Arrowstreet Capital Limited Partnership owned 0.47% of Illinois Tool Works worth $349,761,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caxton Associates LLP increased its holdings in Illinois Tool Works by 12.7% in the first quarter. Caxton Associates LLP now owns 8,066 shares of the industrial products company's stock worth $2,099,000 after purchasing an additional 906 shares in the last quarter. Bowen Hanes & Co. Inc. bought a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $208,000. Dickmeyer Boyce Financial Management Inc. acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $1,591,000. Gibbs Wealth Management acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $268,000. Finally, Sei Investments Co. increased its stake in shares of Illinois Tool Works by 49.5% in the 1st quarter. Sei Investments Co. now owns 344,612 shares of the industrial products company's stock valued at $89,697,000 after acquiring an additional 114,064 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Activity at Illinois Tool Works

In related news, Director Jennifer F. Scanlon purchased 806 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was purchased 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 directly owned 1,652 shares of the company's stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.83% of the stock is owned by insiders.

Illinois Tool Works Trading Up 1.0%

NYSE:ITW opened at $276.59 on Friday. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The firm's 50 day moving average is $261.69 and its 200 day moving average is $266.84. The stock has a market capitalization of $79.57 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 4.71 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.09. The business had revenue of $4.02 billion during 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%.Illinois Tool Works's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.3%. Illinois Tool Works's payout ratio is presently 59.80%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Evercore decreased their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Barclays cut their price objective on shares of Illinois Tool Works from $275.00 to $250.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. raised their target price on Illinois Tool Works from $295.00 to $310.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Finally, Wells Fargo & Company boosted their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $274.00.

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.

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