Wick Capital Partners LLC Buys 14,053 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Wick Capital Partners sharply increased its Illinois Tool Works stake by 1,224.1% in the fourth quarter, buying 14,053 additional shares and bringing its total holdings to 15,201 shares worth about $3.74 million.
• Illinois Tool Works has drawn mixed Wall Street sentiment, with analysts issuing a consensus rating of "Reduce" and an average target price of $271.92; recent notes included downgrades and underweight/sell ratings from several firms.
• The company reported better-than-expected quarterly results, with EPS of $2.66 topping estimates and revenue of $4.02 billion, while also announcing a quarterly dividend of $1.61 per share payable July 10.

Wick Capital Partners LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1,224.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,201 shares of the industrial products company's stock after buying an additional 14,053 shares during the period. Wick Capital Partners LLC's holdings in Illinois Tool Works were worth $3,744,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ITW. Cresta Advisors Ltd. acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $25,000. Motiv8 Investments LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. acquired a new position in Illinois Tool Works in the 4th quarter valued at $27,000. Lodestone Wealth Management LLC bought a new position in Illinois Tool Works during the 4th quarter worth $28,000. Finally, Beacon Financial Strategies CORP acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $29,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ITW shares. Weiss Ratings downgraded shares of Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. The Goldman Sachs Group reissued a "sell" rating and issued a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an "underweight" rating in a research report on Monday, May 4th. Barclays lowered their target price 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, Citigroup lifted their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $271.92.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon acquired 806 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, the director directly owned 1,652 shares in the company, valued at $409,679.48. This represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.83% of the company's stock.

Illinois Tool Works Price Performance

ITW stock opened at $264.38 on Friday. The company's 50-day moving average price is $258.59 and its two-hundred day moving average price is $263.43. The firm has a market cap of $76.06 billion, a P/E ratio of 24.55, a P/E/G ratio of 4.50 and a beta of 1.01. 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 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 quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.09. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates 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 for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

About Illinois Tool Works

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.