Cvfg LLC Acquires Shares of 4,600 Illinois Tool Works Inc. $ITW

Key Points

• Cvfg LLC disclosed a new first-quarter stake in Illinois Tool Works, buying 4,600 shares valued at about $1.2 million.
• Illinois Tool Works reported better-than-expected quarterly earnings of $2.66 per share, topping estimates, with revenue of $4.02 billion and year-over-year sales growth of 4.6%.
• The company also declared a quarterly dividend of $1.61 per share, while analysts currently hold a cautious view with a consensus rating of “Reduce” and an average price target of $273.54.

Cvfg LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,600 shares of the industrial products company's stock, valued at approximately $1,197,000.

A number of other hedge funds have also bought and sold shares of the business. Siemens Fonds Invest GmbH grew its stake in Illinois Tool Works by 70.1% during the third quarter. Siemens Fonds Invest GmbH now owns 18,226 shares of the industrial products company's stock worth $4,753,000 after buying an additional 7,508 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in Illinois Tool Works by 123.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 23,063 shares of the industrial products company's stock valued at $6,014,000 after buying an additional 12,741 shares during the period. Gradient Investments LLC raised its position in shares of Illinois Tool Works by 691.3% in the 4th quarter. Gradient Investments LLC now owns 62,677 shares of the industrial products company's stock valued at $15,437,000 after buying an additional 54,756 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $2,498,000. Finally, Orser Capital Management LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $979,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $265.20 on Thursday. 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 Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The company has a 50 day simple moving average of $258.05 and a two-hundred day simple moving average of $265.09. The company has a market capitalization of $76.30 billion, a PE ratio of 24.62, a P/E/G ratio of 4.66 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data 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. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the firm posted $2.38 EPS. The company's quarterly revenue was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Research analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.61 per share. The ex-dividend date 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 is presently 59.80%.

Insider Buying and Selling

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the purchase, the director directly owned 1,652 shares of the company's stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ITW. Truist Financial boosted their price target on Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. Barclays decreased their target price on 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. The Goldman Sachs Group reiterated a "sell" rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. JPMorgan Chase & Co. cut their target price on shares of Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Finally, Evercore decreased their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of "Reduce" and a consensus price target of $273.54.

About Illinois Tool Works

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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