Illinois Tool Works Inc. $ITW Shares Sold by Nations Financial Group Inc. IA ADV

Key Points

• Nations Financial Group cut its Illinois Tool Works stake by 38% in the first quarter, selling 4,130 shares and ending with 6,752 shares valued at about $1.76 million.
• 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 announced a quarterly dividend of $1.61 per share, implying an annualized payout of $6.44 and a 2.4% yield.

Nations Financial Group Inc. IA ADV decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 38.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,752 shares of the industrial products company's stock after selling 4,130 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in Illinois Tool Works were worth $1,758,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cresta Advisors Ltd. acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth about $25,000. Motiv8 Investments LLC purchased a new position in Illinois Tool Works during the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $27,000. Lodestone Wealth Management LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $28,000. Finally, Beacon Financial Strategies CORP acquired a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Buying and Selling

In related news, Director Jennifer F. Scanlon purchased 806 shares of the business's stock in a transaction on 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 acquisition, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ITW has been the subject of several research reports. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a report on Monday, May 4th. Evercore decreased their price target on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Wolfe Research lifted their price objective on Illinois Tool Works from $276.00 to $295.00 and gave the company an "underperform" rating in a research note on Friday, February 27th. Citigroup boosted their price objective on Illinois Tool Works from $284.00 to $287.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. lowered their target price on Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of "Reduce" and an average price target of $271.92.

Illinois Tool Works Price Performance

Shares of ITW opened at $265.66 on Tuesday. The company has a market cap of $76.43 billion, a P/E ratio of 24.67, a PEG ratio of 4.54 and a beta of 1.01. 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 quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The firm's 50 day moving average price is $258.33 and its 200 day moving average price is $263.66.

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 EPS for the quarter, beating the consensus estimate of $2.57 by $0.09. The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, research analysts forecast that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a $1.61 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works's dividend payout ratio (DPR) is 59.80%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.