Y Intercept Hong Kong Ltd Takes Position in Illinois Tool Works Inc. $ITW

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Illinois Tool Works during the first quarter, buying 26,548 shares worth about $6.91 million.
• Illinois Tool Works has continued to attract institutional interest, with 79.77% of its stock held by institutions and several other funds recently adding to their stakes.
• The company posted solid quarterly results, including EPS of $2.66 versus the $2.57 estimate and revenue of $4.02 billion, while also declaring a $1.61 quarterly dividend payable on July 10.

Y Intercept Hong Kong Ltd acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,548 shares of the industrial products company's stock, valued at approximately $6,910,000.

A number of other institutional investors have also recently added to or reduced their stakes in ITW. Meridian Wealth Management LLC increased its position in Illinois Tool Works by 1.3% in the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company's stock valued at $694,000 after acquiring an additional 37 shares during the period. Winnow Wealth LLC lifted its holdings in shares of Illinois Tool Works by 1.0% during the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company's stock worth $941,000 after purchasing an additional 37 shares during the period. Crown Wealth Group LLC grew its stake in shares of Illinois Tool Works by 4.0% in the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company's stock worth $248,000 after purchasing an additional 37 shares during the last quarter. Mayflower Financial Advisors LLC grew its stake in shares of Illinois Tool Works by 3.8% in the fourth quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company's stock worth $262,000 after purchasing an additional 39 shares during the last quarter. Finally, Revisor Wealth Management LLC increased its holdings in Illinois Tool Works by 1.4% in the fourth quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company's stock valued at $734,000 after purchasing an additional 39 shares during the period. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ITW shares. Citigroup raised their target price on Illinois Tool Works from $284.00 to $287.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. decreased their price target on Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Wells Fargo & Company raised their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the stock an "underweight" rating in a research report on Monday, May 4th. Truist Financial lifted their price objective on Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a research note on Thursday. Finally, Weiss Ratings downgraded shares of Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. One 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's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $273.54.

Insider Activity

In related news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction dated 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 transaction, the director directly owned 1,652 shares in the company, valued at $409,679.48. This represents a 95.27% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.83% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $272.80 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $78.49 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 4.69 and a beta of 1.00. The firm's fifty day simple moving average is $258.09 and its two-hundred day simple moving average is $264.65. 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 data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.09. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Dividend Announcement

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