Korea Investment CORP Takes $47.01 Million Position in Illinois Tool Works Inc. $ITW

Korea Investment CORP bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 173,809 shares of the industrial products company’s stock, valued at approximately $47,010,000. Korea Investment CORP owned about 0.06% of Illinois Tool Works at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cresta Advisors Ltd. purchased a new position in shares of Illinois Tool Works during the 4th quarter worth about $25,000. Motiv8 Investments LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $27,000. Kemnay Advisory Services Inc. purchased a new stake in Illinois Tool Works in the fourth quarter valued at approximately $27,000. Ares Financial Consulting LLC acquired a new position in Illinois Tool Works during the fourth quarter worth approximately $31,000. Finally, Wilkerson Advisory Group LLC raised its stake in Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 52 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Jennifer F. Scanlon acquired 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the transaction, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matteo C. Pigozzo sold 277 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the sale, the chief accounting officer owned 3,394 shares of the company’s stock, valued at $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ITW. JPMorgan Chase & Co. upped their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. UBS Group reiterated a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. Finally, Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Two equities 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 stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Stock Down 0.2%

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

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business 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 business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company 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. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.39%.

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.