Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Illinois Tool Works Inc. $ITW

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 139,123 shares of the industrial products company’s stock, valued at approximately $37,629,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ITW. BlackRock Inc. acquired a new stake in shares of Illinois Tool Works in the 2nd quarter worth approximately $6,296,349,000. Norges Bank purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $808,351,000. Bank of New York Mellon Corp purchased a new stake in shares of Illinois Tool Works in the second quarter valued at $603,166,000. Deutsche Bank AG purchased a new position in Illinois Tool Works during the second quarter worth approximately $221,746,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Illinois Tool Works during the second quarter valued at about $180,734,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.6%

ITW opened at $283.97 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $80.88 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 4.77 and a beta of 0.99. The business has a 50 day moving average of $278.43 and a 200-day moving average of $271.59. 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 released its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter last year, the company earned $2.58 earnings per share. The firm’s 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. As a group, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.72 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.39%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of the firm’s 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 transaction, the director owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. Truist Financial upped their price target 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. The Goldman Sachs Group restated a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Evercore reduced their target price on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, UBS Group restated a “neutral” rating and set a $300.00 price target 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 given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $281.25.

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.