Glenview Trust Co Invests $3.57 Million in Illinois Tool Works Inc. $ITW

Glenview Trust Co bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,708 shares of the industrial products company’s stock, valued at approximately $3,568,000.

A number of other large investors have also modified their holdings of ITW. Empowered Funds LLC lifted its position in Illinois Tool Works by 31.0% during the 2nd quarter. Empowered Funds LLC now owns 87,668 shares of the industrial products company’s stock worth $23,712,000 after acquiring an additional 20,732 shares in the last quarter. Dearborn Partners LLC purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at approximately $29,923,000. Jefferies Financial Group Inc. grew its holdings in Illinois Tool Works by 13.5% during the 2nd quarter. Jefferies Financial Group Inc. now owns 31,604 shares of the industrial products company’s stock worth $8,548,000 after acquiring an additional 3,768 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH increased its holdings in Illinois Tool Works by 14.2% in the second quarter. MASTERINVEST Kapitalanlage GmbH now owns 9,043 shares of the industrial products company’s stock valued at $2,446,000 after buying an additional 1,125 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $504,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, CAO Matteo C. Pigozzo sold 277 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jennifer F. Scanlon bought 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, for a total transaction of $199,879.94. Following the acquisition, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.83% of the stock is owned by insiders.

Analysts Set New Price Targets

ITW has been the subject of a number of recent research reports. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wolfe Research reissued an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Evercore decreased their price objective on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, UBS Group restated a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a research 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 issued a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Trading Down 1.4%

NYSE ITW opened at $281.43 on Friday. The firm’s 50 day moving average price is $279.56 and its two-hundred day moving average price is $271.44. The stock has a market cap of $80.15 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 4.82 and a beta of 0.99. 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 Inc. has a twelve month low of $238.82 and a twelve month high of $303.15.

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

Illinois Tool Works Increases Dividend

The company 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 dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s 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.