Korea Investment CORP Acquires Shares of 173,809 Illinois Tool Works Inc. $ITW

Korea Investment CORP acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 173,809 shares of the industrial products company’s stock, valued at approximately $47,010,000.

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

Illinois Tool Works Stock Down 0.2%

NYSE:ITW opened at $282.23 on Friday. 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 50 day moving average of $278.00 and a 200-day moving average of $271.50. The firm has a market capitalization of $80.38 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.77 and a beta of 0.99. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (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%.The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Analysts predict that Illinois Tool Works Inc. will post 11.45 EPS 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. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. This is a positive change 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 presently 58.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ITW shares. Truist Financial boosted their price target on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Robert W. Baird raised their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works has an average rating of “Reduce” and a consensus price target of $281.25.

Insider Transactions at Illinois Tool Works

In other news, Director Jennifer F. Scanlon acquired 806 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders own 0.83% of the company’s stock.

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.