2,150 Shares of Illinois Tool Works Inc. $ITW Bought by Greg Jennings LLC

Greg Jennings LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,150 shares of the industrial products company’s stock, valued at approximately $553,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Continuum Advisory LLC bought a new stake in shares of Illinois Tool Works in the second quarter valued at approximately $29,000. Abound Wealth Management increased its stake in Illinois Tool Works by 178.6% during the 2nd quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 75 shares during the period. Wilkerson Advisory Group LLC increased its stake in Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 52 shares during the period. Tacita Capital Inc bought a new position in Illinois Tool Works during the 2nd quarter worth $32,000. Finally, Meeder Asset Management Inc. acquired a new position in Illinois Tool Works in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of several analyst reports. UBS Group set a $277.00 target price on Illinois Tool Works in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price target on Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. JPMorgan Chase & Co. downgraded Illinois Tool Works from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $350.00 to $270.00 in a research note on Friday, October 9th. Truist Financial cut their price objective on shares of Illinois Tool Works from $308.00 to $297.00 and set a “hold” rating for the company in a research report on Monday, October 5th. Finally, Weiss Ratings downgraded shares of Illinois Tool Works from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $273.42.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of the business’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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernest Santi sold 41,431 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the transaction, the director directly owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This trade represents a 13.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.83% of the company’s stock.

Illinois Tool Works Price Performance

ITW traded down $1.78 during trading on Monday, hitting $270.50. 798,346 shares of the stock traded hands, compared to its average volume of 1,374,840. The business has a 50 day moving average price of $273.50 and a 200 day moving average price of $268.47. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a market cap of $77.04 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.94 and a beta of 0.96.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the business posted $2.58 EPS. The company’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 research analysts forecast that Illinois Tool Works Inc. will post 11.42 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were paid a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend was Wednesday, September 30th. Illinois Tool Works’s payout ratio is 62.38%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW’s operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.