Faithward Advisors LLC Buys 81,478 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Faithward Advisors LLC dramatically increased its Illinois Tool Works stake by 3,565.8% in the first quarter, buying 81,478 additional shares and bringing its total holdings to 83,763 shares worth about $21.8 million.
• Insider buying was also reported, with director Jennifer F. Scanlon purchasing 806 shares at $247.99 each, a move that nearly doubled her position.
• Illinois Tool Works recently beat quarterly earnings expectations, posting $2.66 EPS on revenue of $4.02 billion, while also declaring a quarterly dividend of $1.61 per share payable July 10.

Faithward Advisors LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3,565.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,763 shares of the industrial products company's stock after purchasing an additional 81,478 shares during the period. Illinois Tool Works accounts for 2.9% of Faithward Advisors LLC's portfolio, making the stock its 4th largest position. Faithward Advisors LLC's holdings in Illinois Tool Works were worth $21,803,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ITW. Cresta Advisors Ltd. acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth $25,000. Motiv8 Investments LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $27,000. Lodestone Wealth Management LLC bought a new position in Illinois Tool Works during the fourth quarter worth $28,000. Finally, Beacon Financial Strategies CORP acquired a new position in Illinois Tool Works in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insiders Place Their Bets

In other news, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.83% of the company's stock.

Illinois Tool Works Trading Down 1.2%

Shares of NYSE ITW opened at $262.25 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company has a market cap of $75.45 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 4.56 and a beta of 1.01. The business has a fifty day simple moving average of $258.17 and a 200-day simple moving average of $263.75.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping analysts' consensus estimates of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the business posted $2.38 EPS. Illinois Tool Works's 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. Sell-side analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. Illinois Tool Works's dividend payout ratio (DPR) is currently 59.80%.

Analyst Upgrades and Downgrades

ITW has been the subject of several research analyst reports. Barclays cut their price objective on Illinois Tool Works from $275.00 to $250.00 and set an "underweight" rating for the company in a report on Wednesday, April 1st. The Goldman Sachs Group reissued a "sell" rating and issued a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. Citigroup raised their price objective on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an "underweight" rating in a report on Monday, May 4th. Finally, Weiss Ratings lowered shares of Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Reduce" and an average target price of $271.92.

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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