5,366 Shares in Illinois Tool Works Inc. $ITW Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 5,366 shares of the industrial products company’s stock, valued at approximately $1,451,000.

Other hedge funds also recently modified their holdings of the company. Meridian Wealth Management LLC grew its position in shares of Illinois Tool Works by 1.3% during the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after buying an additional 37 shares during the period. Winnow Wealth LLC lifted its holdings in Illinois Tool Works by 1.0% in the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock valued at $941,000 after buying an additional 37 shares during the period. Crown Wealth Group LLC boosted its stake in 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 valued at $248,000 after acquiring an additional 37 shares during the last quarter. Concord Asset Management LLC VA grew its holdings in Illinois Tool Works by 1.1% during the 4th quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock worth $884,000 after acquiring an additional 39 shares during the period. Finally, Planning Alternatives Ltd. ADV raised its position in shares of Illinois Tool Works by 2.6% during the 4th quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, Director Jennifer F. Scanlon acquired 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the sale, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Truist Financial upped 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. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. Two 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. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Trading Up 0.6%

NYSE ITW opened at $283.97 on Tuesday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. 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 market cap of $80.88 billion, a P/E ratio of 25.75, a P/E/G ratio of 4.77 and a beta of 0.99. The stock’s 50-day moving average is $278.43 and its 200-day moving average is $271.59.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (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 business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same period in the previous year, the firm earned $2.58 EPS. Illinois Tool Works’s quarterly 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 anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.72 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s payout ratio is currently 58.39%.

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.