Midway Capital Research & Management Acquires Shares of 2,317 Illinois Tool Works Inc. $ITW

Midway Capital Research & Management bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,317 shares of the industrial products company’s stock, valued at approximately $571,000.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Illinois Tool Works in the 4th quarter worth about $808,351,000. Northwestern Mutual Wealth Management Co. boosted its stake in Illinois Tool Works by 1,517.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company’s stock worth $96,062,000 after purchasing an additional 365,915 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Illinois Tool Works by 11.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company’s stock valued at $815,587,000 after purchasing an additional 353,056 shares during the last quarter. Caisse de depot et placement du Quebec grew its position in Illinois Tool Works by 293.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 424,547 shares of the industrial products company’s stock valued at $110,705,000 after purchasing an additional 316,512 shares during the last quarter. Finally, Pinebridge Investments LLC bought a new stake in Illinois Tool Works during the 4th quarter valued at about $76,764,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ITW. Evercore dropped their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Weiss Ratings downgraded shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. decreased their price objective on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Wells Fargo & Company upped their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a research note on Thursday, April 30th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $271.92.

Insider Activity at Illinois Tool Works

In other news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, the director owned 1,652 shares in the company, valued at $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is owned by insiders.

Illinois Tool Works Stock Up 0.1%

Shares of Illinois Tool Works stock opened at $264.38 on Friday. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The company’s 50 day moving average is $258.49 and its 200 day moving average is $263.43. The company has a market cap of $76.06 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 4.54 and a beta of 1.01.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Research analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is presently 59.80%.

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.