Fifth Third Bancorp Increases Stock Holdings in Illinois Tool Works Inc. $ITW

Fifth Third Bancorp increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 329,056 shares of the industrial products company's stock after purchasing an additional 47,585 shares during the period. Fifth Third Bancorp owned 0.11% of Illinois Tool Works worth $85,650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $808,351,000. Auto Owners Insurance Co raised its position in Illinois Tool Works by 24,530.0% in the fourth quarter. Auto Owners Insurance Co now owns 628,065 shares of the industrial products company's stock valued at $15,469,000 after purchasing an additional 625,515 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Illinois Tool Works by 1,517.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company's stock valued at $96,062,000 after buying an additional 365,915 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Illinois Tool Works by 11.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company's stock worth $815,587,000 after acquiring an additional 353,056 shares during the last quarter. Finally, Caisse de depot et placement du Quebec boosted its position in shares of Illinois Tool Works by 293.0% during the third quarter. Caisse de depot et placement du Quebec now owns 424,547 shares of the industrial products company's stock worth $110,705,000 after buying an additional 316,512 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a research report on Monday, May 4th. Citigroup lifted their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Wolfe Research reiterated an "underperform" rating and set a $286.00 price target on shares of Illinois Tool Works in a report on Thursday. Barclays reduced 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 report on Wednesday, April 1st. Finally, Weiss Ratings cut shares of Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $272.85.

Illinois Tool Works Trading Up 0.1%

ITW opened at $269.18 on Monday. 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 52 week low of $238.82 and a 52 week high of $303.15. The business's 50 day moving average is $258.05 and its two-hundred day moving average is $265.32. The firm has a market cap of $77.44 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 4.62 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 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 the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The company'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. On average, research analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors 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 dividend yield of 2.4%. Illinois Tool Works's dividend payout ratio (DPR) is currently 59.80%.

Insider Transactions at Illinois Tool Works

In related news, Director Jennifer F. Scanlon purchased 806 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.83% of the stock is owned by company insiders.

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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