Hsbc Holdings PLC Purchases New Position in Illinois Tool Works Inc. $ITW

Hsbc Holdings PLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent filing with the SEC. The firm acquired 777,597 shares of the industrial products company’s stock, valued at approximately $209,959,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meridian Wealth Management LLC raised its holdings 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 worth $694,000 after purchasing an additional 37 shares in the last quarter. Winnow Wealth LLC boosted its position in Illinois Tool Works by 1.0% during the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock valued at $941,000 after acquiring an additional 37 shares in the last quarter. Crown Wealth Group LLC grew its holdings in shares of Illinois Tool Works by 4.0% during the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 37 shares during the period. Planning Alternatives Ltd. ADV raised its position in shares of Illinois Tool Works by 2.6% in the 4th quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock worth $384,000 after acquiring an additional 39 shares in the last quarter. Finally, Argos Wealth Advisors LLC lifted its stake in shares of Illinois Tool Works by 2.6% in the 1st quarter. Argos Wealth Advisors LLC now owns 1,526 shares of the industrial products company’s stock valued at $397,000 after purchasing an additional 39 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Jennifer F. Scanlon purchased 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. The trade was a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is owned by insiders.

Illinois Tool Works Trading Down 0.8%

Shares of ITW stock opened at $281.78 on Wednesday. The company has a market cap of $80.25 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 4.80 and a beta of 0.99. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. The firm has a fifty day moving average price of $278.75 and a 200-day moving average price of $271.54. 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) 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. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 annualized dividend and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio is 58.39%.

Analysts Set New Price Targets

ITW has been the topic of several research reports. UBS Group reissued a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Evercore dropped their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Finally, 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 report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works 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.