Baird Financial Group Inc. Has $76.36 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Baird Financial Group Inc. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 282,328 shares of the industrial products company's stock after selling 14,863 shares during the quarter. Baird Financial Group Inc. owned about 0.10% of Illinois Tool Works worth $76,361,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Motiv8 Investments LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $27,000. Kemnay Advisory Services Inc. acquired a new position in Illinois Tool Works in the fourth quarter valued at $27,000. Continuum Advisory LLC bought a new stake in Illinois Tool Works during the second quarter valued at $29,000. Wilkerson Advisory Group LLC grew its holdings 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 worth $31,000 after acquiring an additional 52 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in Illinois Tool Works by 215.0% during the 4th quarter. Meeder Asset Management Inc. now owns 126 shares of the industrial products company's stock worth $31,000 after acquiring an additional 86 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $264.20 on Thursday. The firm has a market capitalization of $75.24 billion, a P/E ratio of 23.95, a P/E/G ratio of 3.64 and a beta of 0.98. The firm's 50-day moving average price is $280.31 and its 200-day moving average price is $269.84. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same period in the previous year, the company posted $2.58 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 11.45 earnings per share 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 issued a dividend of $1.72 per share. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works's dividend payout ratio is presently 58.39%.

Wall Street Analyst Weigh In

ITW has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Truist Financial raised their target price on Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $310.00 to $350.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Weiss Ratings raised Illinois Tool Works from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Finally, UBS Group reaffirmed a "neutral" rating and set a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $281.25.

Insider Buying and Selling

In other Illinois Tool Works news, Director Ernest Santi sold 41,431 shares of the business's 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 sale, the director owned 266,288 shares in the company, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. The trade was 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 owned by corporate insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc NYSE: ITW is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.

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