Sawyer & Company Inc Buys New Shares in Illinois Tool Works Inc. $ITW

Key Points

• Sawyer & Company initiated a position in Illinois Tool Works, buying 10,799 shares worth approximately $2.78 million during the third quarter. Institutional investors collectively own about 79.77% of ITW.
• Analyst sentiment remains cautious: ITW has an average “Reduce” rating and a consensus price target of $273.42, with several firms recently cutting targets or maintaining “Hold” and “Sell” ratings.
• Illinois Tool Works reported quarterly earnings and revenue above expectations, while raising its quarterly dividend to $1.72, or $6.88 annually, for a yield of roughly 2.5%.

Sawyer & Company Inc purchased a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,799 shares of the industrial products company's stock, valued at approximately $2,778,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Continuum Advisory LLC purchased a new stake in shares of Illinois Tool Works in the second quarter worth $29,000. Physician Wealth Advisors Inc. boosted its stake in Illinois Tool Works by 77.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 112 shares of the industrial products company's stock worth $29,000 after purchasing an additional 49 shares in the last quarter. Wilkerson Advisory Group LLC grew its position in Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 52 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Illinois Tool Works during the 1st quarter valued at about $32,000. Finally, Abound Wealth Management increased its stake in Illinois Tool Works by 178.6% during the 2nd quarter. Abound Wealth Management now owns 117 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

ITW has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of Illinois Tool Works from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $350.00 to $270.00 in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Illinois Tool Works from $287.00 to $281.00 and set a "hold" rating on the stock in a report on Wednesday, September 30th. 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 report on Wednesday, July 29th. UBS Group set a $277.00 price objective on shares of Illinois Tool Works in a report on Friday, October 9th. Finally, Wolfe Research reaffirmed an "underperform" rating and set a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of "Reduce" and an average price target of $273.42.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo Pigozzo sold 277 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the sale, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. This represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ernest Santi sold 41,431 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the sale, the director directly owned 266,288 shares in the company, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.83% of the company's stock.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $2.41 during mid-day trading on Wednesday, hitting $277.38. 300,205 shares of the company traded hands, compared to its average volume of 1,368,505. The stock's fifty day moving average price is $272.67 and its 200-day moving average price is $268.64. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The firm has a market cap of $79.00 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.92 and a beta of 0.96.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%. The business had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.19 billion. During the same quarter in the prior year, the business posted $2.58 earnings per share. The business's quarterly revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Research analysts anticipate that Illinois Tool Works Inc. will post 11.42 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.61. The ex-dividend date of this dividend was Wednesday, September 30th. Illinois Tool Works's dividend payout ratio is currently 62.38%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc NYSE: ITW is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW's operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.

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