Cornerstone Planning LLC Invests $1.60 Million in Illinois Tool Works Inc. $ITW

Key Points

• Cornerstone Planning LLC opened a new position in Illinois Tool Works, buying 6,484 shares worth about $1.6 million in the fourth quarter.
• Illinois Tool Works reported better-than-expected quarterly results, with EPS of $2.66 versus estimates of $2.57 and revenue of $4.02 billion, up 4.6% year over year.
• The company also declared a quarterly dividend of $1.61 per share, and insider activity included Director Jennifer F. Scanlon buying 806 shares, while analysts currently have a consensus rating of “Reduce” on the stock.

Cornerstone Planning LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,484 shares of the industrial products company's stock, valued at approximately $1,605,000.

Several other institutional investors have also made changes to their positions in ITW. Cresta Advisors Ltd. bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $25,000. Motiv8 Investments LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth $27,000. Kemnay Advisory Services Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter worth $27,000. Lodestone Wealth Management LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at about $28,000. Finally, Beacon Financial Strategies CORP bought a new stake in Illinois Tool Works during the fourth quarter worth about $29,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of ITW opened at $264.38 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The stock has a market cap of $76.06 billion, a PE ratio of 24.55, a PEG ratio of 4.54 and a beta of 1.01. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The business has a 50-day simple moving average of $258.49 and a two-hundred day simple moving average of $263.43.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating 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 revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works's dividend payout ratio (DPR) is presently 59.80%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the acquisition, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ITW. The Goldman Sachs Group reiterated a "sell" rating and set a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Evercore cut their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Barclays reduced their price target 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. Wolfe Research boosted their price objective on shares of Illinois Tool Works from $276.00 to $295.00 and gave the company an "underperform" rating in a research report on Friday, February 27th. Finally, Citigroup upped their target price on Illinois Tool Works from $284.00 to $287.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. One 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 stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of "Reduce" and a consensus price target of $271.92.

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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