Foster & Motley Inc. acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,662 shares of the industrial products company's stock, valued at approximately $990,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio increased its position in Illinois Tool Works by 20.5% in the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company's stock worth $20,508,000 after buying an additional 14,186 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Illinois Tool Works by 3.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company's stock worth $146,433,000 after acquiring an additional 21,481 shares during the last quarter. Pacific Heights Asset Management LLC increased its holdings in shares of Illinois Tool Works by 15.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company's stock worth $28,324,000 after acquiring an additional 15,000 shares during the period. MUFG Securities EMEA plc increased its holdings in shares of Illinois Tool Works by 113.2% in the 4th quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company's stock worth $2,665,000 after acquiring an additional 5,745 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Illinois Tool Works by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 327,574 shares of the industrial products company's stock valued at $80,681,000 after purchasing an additional 9,593 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CAO Matteo C. Pigozzo sold 277 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director owned 1,652 shares of the company's stock, valued at $409,679.48. This trade represents a 95.27% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.83% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on ITW. Robert W. Baird raised their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. UBS Group reiterated a "neutral" rating and set a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Wells Fargo & Company raised their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a research report on Monday, May 4th. Weiss Ratings upgraded Illinois Tool Works from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Finally, Citigroup reissued a "neutral" rating on shares of Illinois Tool Works in a research note on Monday, July 13th. 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 stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of "Reduce" and an average price target of $281.25.
Check Out Our Latest Report on ITW
Illinois Tool Works Trading Down 0.2%
Illinois Tool Works stock opened at $284.18 on Thursday. The stock has a market cap of $80.93 billion, a P/E ratio of 25.76, a P/E/G ratio of 4.81 and a beta of 0.99. The company's fifty day simple moving average is $276.94 and its 200-day simple moving average is $271.27. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15.
Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The company's revenue for the quarter 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. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.
Illinois Tool Works Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.61. Illinois Tool Works's dividend payout ratio is currently 58.39%.
Illinois Tool Works Company Profile
(
Free Report)
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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