Illinois Tool Works (NYSE:ITW) CAO Matteo Pigozzo Sells 277 Shares

Illinois Tool Works Inc. (NYSE:ITW) CAO Matteo Pigozzo sold 277 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Illinois Tool Works Stock Performance

NYSE ITW opened at $287.63 on Tuesday. The business’s 50 day moving average price is $275.71 and its 200-day moving average price is $270.94. 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 market cap of $81.92 billion, a P/E ratio of 26.08, a P/E/G ratio of 4.91 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 (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 return on equity of 101.72% and a net margin of 19.39%.The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period last year, the company earned $2.58 earnings per share. Illinois Tool Works’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. Sell-side analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is presently 58.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ITW. Jefferies Financial Group Inc. lifted its holdings in shares of Illinois Tool Works by 13.5% in the 2nd quarter. Jefferies Financial Group Inc. now owns 31,604 shares of the industrial products company’s stock worth $8,548,000 after buying an additional 3,768 shares during the period. MASTERINVEST Kapitalanlage GmbH increased its stake in shares of Illinois Tool Works by 14.2% during 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 period. Proficio Capital Partners LLC bought a new stake in shares of Illinois Tool Works in the second quarter valued at about $504,000. Transamerica Financial Advisors LLC lifted its stake in Illinois Tool Works by 9.0% in the second quarter. Transamerica Financial Advisors LLC now owns 4,288 shares of the industrial products company’s stock worth $1,161,000 after acquiring an additional 355 shares during the period. Finally, Corient Private Wealth LP grew its holdings in Illinois Tool Works by 112.6% during the 2nd quarter. Corient Private Wealth LP now owns 524,153 shares of the industrial products company’s stock worth $141,768,000 after acquiring an additional 277,594 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. 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. Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 9th. Evercore reduced their target price on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Truist Financial lifted their target price on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. Two 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. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target 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.