Sterling Investment Advisors Ltd. Buys Shares of 12,312 Illinois Tool Works Inc. $ITW

Sterling Investment Advisors Ltd. acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,312 shares of the industrial products company’s stock, valued at approximately $3,330,000.

Other institutional investors have also bought and sold shares of the company. Ramsay Stattman Vela & Price Inc. grew its holdings in Illinois Tool Works by 0.4% during the 2nd quarter. Ramsay Stattman Vela & Price Inc. now owns 45,163 shares of the industrial products company’s stock valued at $12,215,000 after buying an additional 169 shares in the last quarter. Allworth Financial LP raised its position in shares of Illinois Tool Works by 3.6% during the 2nd quarter. Allworth Financial LP now owns 7,829 shares of the industrial products company’s stock valued at $2,117,000 after buying an additional 270 shares in the last quarter. Arizona State Retirement System grew its position in Illinois Tool Works by 0.6% in the second quarter. Arizona State Retirement System now owns 75,971 shares of the industrial products company’s stock worth $20,548,000 after acquiring an additional 460 shares in the last quarter. Waverly Advisors LLC raised its position in Illinois Tool Works by 11.8% during the second quarter. Waverly Advisors LLC now owns 49,290 shares of the industrial products company’s stock valued at $13,332,000 after purchasing an additional 5,200 shares during the period. Finally, Empirical Finance LLC boosted its holdings in shares of Illinois Tool Works by 3.3% in the 2nd quarter. Empirical Finance LLC now owns 9,629 shares of the industrial products company’s stock worth $2,604,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Robert W. Baird lifted their price target on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” 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, Truist Financial increased their price target on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $281.25.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Santi sold 41,431 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the transaction, the director owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matteo Pigozzo sold 277 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is owned by insiders.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $268.76 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The firm has a market cap of $76.54 billion, a PE ratio of 24.37, a P/E/G ratio of 3.66 and a beta of 0.98. 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 business has a 50-day moving average price of $280.40 and a 200 day moving average price of $270.04.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the previous year, the firm posted $2.58 EPS. Illinois Tool Works’s revenue was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.38%.

About Illinois Tool Works

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.