Illinois Tool Works (NYSE:ITW) Director Sells $11,894,425.79 in Stock

Illinois Tool Works Inc. (NYSE:ITW) Director Ernest Scott Santi sold 41,431 shares of the stock in a transaction that occurred on 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 sale, the director owned 266,288 shares in the company, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Illinois Tool Works Stock Down 0.2%

NYSE ITW traded down $0.51 during mid-day trading on Friday, reaching $282.23. The stock had a trading volume of 869,116 shares, compared to its average volume of 1,403,340. The stock has a market cap of $80.38 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 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 company has a fifty day moving average price of $277.50 and a 200 day moving average price of $271.42.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping 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 business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter last year, the company earned $2.58 EPS. The company’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. On average, research analysts expect that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is 62.38%.

Institutional Investors Weigh In On Illinois Tool Works

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cresta Advisors Ltd. purchased a new stake in Illinois Tool Works during the fourth quarter valued at approximately $25,000. Motiv8 Investments LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth $27,000. Kemnay Advisory Services Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $27,000. Continuum Advisory LLC purchased a new stake in shares of Illinois Tool Works in the 2nd quarter worth $29,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ITW. Evercore dropped their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Truist Financial boosted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. increased their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Finally, Robert W. Baird boosted their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Reduce” and a consensus target price of $281.25.

About Illinois Tool Works

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.