Greenwood Capital Associates LLC Takes $1.42 Million Position in Illinois Tool Works Inc. $ITW

Greenwood Capital Associates LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 1st quarter, Holdings Channel reports. The fund purchased 5,462 shares of the industrial products company’s stock, valued at approximately $1,422,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after buying an additional 277 shares during the last quarter. Bison Wealth LLC grew its holdings in Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after buying an additional 81 shares in the last quarter. Sivia Capital Partners LLC increased its position in Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 177 shares during the period. Sei Investments Co. increased its position in Illinois Tool Works by 22.0% in the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock valued at $26,401,000 after acquiring an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Illinois Tool Works by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock valued at $33,845,000 after acquiring an additional 2,890 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup increased their price target on Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. reduced 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. Evercore lowered their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Finally, Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average target price of $272.85.

Illinois Tool Works Trading Up 0.1%

Shares of ITW opened at $265.26 on Friday. The business’s 50-day moving average price is $257.98 and its 200 day moving average price is $265.20. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $76.31 billion, a P/E ratio of 24.63, a P/E/G ratio of 4.56 and a beta of 1.00. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15.

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

Illinois Tool Works Dividend Announcement

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

Insider Buying and Selling

In other news, Director Jennifer F. Scanlon acquired 806 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average price of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.83% of the company’s stock.

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.