The Manufacturers Life Insurance Company Sells 3,697 Shares of Illinois Tool Works Inc. $ITW

The Manufacturers Life Insurance Company lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 135,215 shares of the industrial products company’s stock after selling 3,697 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Illinois Tool Works were worth $36,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Continuum Advisory LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter worth about $29,000. Motiv8 Investments LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at about $27,000. Kemnay Advisory Services Inc. acquired a new position in Illinois Tool Works in the fourth quarter worth about $27,000. Abound Wealth Management raised its position in Illinois Tool Works by 178.6% in the second quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Finally, Wilkerson Advisory Group LLC lifted its stake 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 purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ernest Santi sold 41,431 shares of Illinois Tool Works stock in a transaction dated Wednesday, August 19th. The stock was 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 directly owned 266,288 shares of the company’s stock, valued at $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ITW. Robert W. Baird upped their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Finally, UBS Group reissued a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Stock Performance

NYSE ITW opened at $268.08 on Friday. The firm has a market cap of $76.35 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.64 and a beta of 0.98. The company has a 50 day moving average of $280.06 and a 200-day moving average of $269.62. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.Illinois Tool Works’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 11.43 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.6%. 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 presently 58.39%.

About Illinois Tool Works

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.