Kestra Advisory Services LLC Purchases 4,524 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Kestra Advisory Services increased its stake in Illinois Tool Works by 5.3% in the first quarter, buying 4,524 shares to bring its total holding to 90,548 shares worth about $23.6 million.
• Illinois Tool Works beat earnings expectations, reporting Q1 EPS of $2.66 versus $2.57 expected, with revenue of $4.02 billion slightly above estimates and up 4.6% year over year.
• The company paid a quarterly dividend of $1.61 per share, and the stock recently traded up 1.4% to $269.18; analysts currently have a consensus rating of "Reduce" with a target price of $272.85.

Kestra Advisory Services LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,548 shares of the industrial products company's stock after purchasing an additional 4,524 shares during the quarter. Kestra Advisory Services LLC's holdings in Illinois Tool Works were worth $23,569,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. boosted its position in shares of Illinois Tool Works by 0.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 104,655 shares of the industrial products company's stock valued at $27,142,000 after acquiring an additional 680 shares during the last quarter. Personal CFO Solutions LLC bought a new position in shares of Illinois Tool Works in the first quarter worth approximately $218,000. Greenwood Capital Associates LLC purchased a new stake in Illinois Tool Works in the first quarter valued at approximately $1,422,000. Cvfg LLC bought a new stake in Illinois Tool Works during the first quarter valued at approximately $1,197,000. Finally, Arbor Trust Wealth Advisors LLC bought a new stake in Illinois Tool Works during the first quarter valued at approximately $203,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Up 1.4%

NYSE:ITW traded up $3.70 during trading hours on Friday, reaching $269.18. The company's stock had a trading volume of 1,119,475 shares, compared to its average volume of 1,335,010. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The firm has a market capitalization of $77.44 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 4.56 and a beta of 1.00. The firm has a 50-day simple moving average of $258.05 and a 200-day simple moving average of $265.22. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.57 by $0.09. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Research analysts expect that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal 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 given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 59.80%.

Insider Buying and Selling

In related news, Director Jennifer F. Scanlon purchased 806 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average cost of $247.99 per share, with a total value of $199,879.94. Following 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research analyst reports. Citigroup increased their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. JPMorgan Chase & Co. cut their target price on shares of Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Truist Financial increased their target price on Illinois Tool Works from $280.00 to $301.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. Wells Fargo & Company raised their price target 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. Finally, Weiss Ratings cut Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $272.85.

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.

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW - Free Report).

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.