Trust Co. of Vermont Buys Shares of 39,339 Illinois Tool Works Inc. $ITW

Trust Co. of Vermont purchased a new position 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 institutional investor purchased 39,339 shares of the industrial products company’s stock, valued at approximately $10,640,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cresta Advisors Ltd. purchased a new position in Illinois Tool Works in the fourth quarter worth $25,000. Motiv8 Investments LLC bought a new stake in Illinois Tool Works during the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter worth about $27,000. Abound Wealth Management increased its position in shares of Illinois Tool Works by 178.6% during the 2nd quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. Finally, Wilkerson Advisory Group LLC increased its position in shares of Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In related news, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the transaction, the chief accounting officer owned 3,394 shares in the company, valued at $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer F. Scanlon purchased 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director directly owned 1,652 shares of the company’s stock, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Trading Down 1.1%

Shares of ITW opened at $287.63 on Tuesday. The stock has a market capitalization of $81.92 billion, a P/E ratio of 26.08, a PEG ratio of 4.91 and a beta of 0.99. 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 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The firm has a fifty day simple moving average of $275.71 and a two-hundred day simple moving average of $270.94.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm 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%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.72 dividend. 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 yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is 58.39%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ITW shares. Truist Financial boosted 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. 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. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a report on Thursday, April 30th. Finally, Evercore decreased their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price 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.