Illinois Tool Works Inc. $ITW Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 442.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 659,840 shares of the industrial products company’s stock after acquiring an additional 538,200 shares during the period. Renaissance Technologies LLC’s holdings in Illinois Tool Works were worth $171,750,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ITW. Cresta Advisors Ltd. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $25,000. Motiv8 Investments LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $27,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $27,000. Lodestone Wealth Management LLC purchased a new position in Illinois Tool Works during the 4th quarter worth approximately $28,000. Finally, Wilkerson Advisory Group LLC increased its position in Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock worth $31,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings cut Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $254.00 target price on shares of Illinois Tool Works in a report on Thursday, April 30th. Wolfe Research reiterated an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. Truist Financial raised their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, Evercore dropped their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $274.00.

Insider Buying and Selling

In other news, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Up 2.2%

Illinois Tool Works stock opened at $282.91 on Friday. The stock has a 50 day moving average of $262.39 and a two-hundred day moving average of $266.96. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The stock has a market capitalization of $81.39 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 4.76 and a beta of 1.00. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $2.38 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, research analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.61 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.3%. Illinois Tool Works’s dividend payout ratio is presently 59.80%.

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.