Illinois Tool Works Inc. $ITW Shares Purchased by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 41.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,709 shares of the industrial products company’s stock after purchasing an additional 2,247 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Illinois Tool Works were worth $2,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Illinois Tool Works during the second quarter valued at about $6,296,349,000. State Street Corp increased its holdings in Illinois Tool Works by 1.2% in the 4th quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock valued at $3,122,535,000 after purchasing an additional 151,864 shares during the last quarter. Geode Capital Management LLC lifted its stake in Illinois Tool Works by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after purchasing an additional 184,301 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Illinois Tool Works by 3.2% in the fourth quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after buying an additional 142,837 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Illinois Tool Works by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock valued at $912,562,000 after buying an additional 54,519 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent research reports. Wolfe Research reiterated an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 9th. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Evercore cut their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Truist Financial increased their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and an average target price of $281.25.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Matteo C. Pigozzo sold 277 shares of the company’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 directly owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This represents a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ernest Scott Santi sold 41,431 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is owned by insiders.

Illinois Tool Works Stock Down 0.5%

ITW stock opened at $280.19 on Friday. The company’s 50 day moving average price is $279.88 and its 200 day moving average price is $271.50. The firm has a market capitalization of $79.80 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 4.73 and a beta of 0.99. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the previous year, the firm earned $2.58 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced 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 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio is currently 58.39%.

Illinois Tool Works Company 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.