Illinois Tool Works (NYSE:ITW) Director Jennifer Scanlon Acquires 806 Shares

Key Points

• Director Jennifer Scanlon bought 806 shares of Illinois Tool Works stock on June 2 at an average price of $247.99, increasing her direct holdings by 95.27% to 1,652 shares.
• Illinois Tool Works reported better-than-expected first-quarter results, with EPS of $2.66 versus the $2.57 consensus and revenue of $4.02 billion, up 4.6% year over year.
• The company declared a quarterly dividend of $1.61 per share, payable July 10, implying a 2.6% annualized yield and a payout ratio of 59.8%.

Illinois Tool Works Inc. (NYSE:ITW - Get Free Report) Director Jennifer Scanlon bought 806 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director directly owned 1,652 shares of the company's stock, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $0.88 during mid-day trading on Thursday, hitting $251.14. The company had a trading volume of 965,446 shares, compared to its average volume of 1,412,159. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The stock's 50 day moving average price is $259.23 and its 200-day moving average price is $262.48. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. The company has a market capitalization of $72.25 billion, a P/E ratio of 23.32, a P/E/G ratio of 4.27 and a beta of 1.01.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm earned $2.38 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works's payout ratio is 59.80%.

Institutional Trading of Illinois Tool Works

Several hedge funds and other institutional investors have recently bought and sold shares of ITW. Brighton Jones LLC raised its holdings in Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after buying an additional 277 shares during the period. Bison Wealth LLC raised its holdings in Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock valued at $901,000 after buying an additional 81 shares during the period. Sivia Capital Partners LLC raised its holdings in Illinois Tool Works by 20.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock valued at $257,000 after buying an additional 177 shares during the period. Sei Investments Co. raised its holdings in Illinois Tool Works by 22.0% during the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company's stock valued at $26,401,000 after buying an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in Illinois Tool Works by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company's stock valued at $33,845,000 after buying an additional 2,890 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Evercore lowered their target price on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Truist Financial increased their target price on Illinois Tool Works from $275.00 to $280.00 and gave the company a "hold" rating in a research report on Wednesday, February 4th. Wells Fargo & Company increased their target price 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. The Goldman Sachs Group reiterated a "sell" rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, Citigroup increased their target price on 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 investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of "Reduce" and an average price target of $271.92.

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.

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