HBK Sorce Advisory LLC Purchases New Shares in Illinois Tool Works Inc. $ITW

HBK Sorce Advisory LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,708 shares of the industrial products company’s stock, valued at approximately $805,000.

A number of other institutional investors have also added to or reduced their stakes in ITW. OMC Financial Services LTD purchased a new stake in Illinois Tool Works in the second quarter worth about $582,000. German American Bancorp Inc. purchased a new position in shares of Illinois Tool Works during the second quarter valued at approximately $234,000. Gould Asset Management LLC CA purchased a new position in shares of Illinois Tool Works during the second quarter valued at approximately $215,000. Flputnam Investment Management Co. bought a new stake in shares of Illinois Tool Works in the 2nd quarter worth approximately $8,952,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Illinois Tool Works in the 2nd quarter worth approximately $750,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of analyst reports. UBS Group reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Wolfe Research reissued an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. Evercore lowered their price target on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Finally, Truist Financial upped their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. 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 company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Stock Down 0.0%

ITW stock opened at $290.74 on Monday. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The business has a fifty day moving average price of $275.01 and a 200-day moving average price of $270.73. 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 stock has a market capitalization of $82.80 billion, a P/E ratio of 26.36, a P/E/G ratio of 4.91 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating 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 last year, the firm posted $2.58 earnings per share. 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. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a $1.72 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.39%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon acquired 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.83% of the stock is owned by insiders.

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.