Illinois Tool Works (NYSE:ITW) Director Sells $11,894,425.79 in Stock

Illinois Tool Works Inc. (NYSE:ITW) Director Ernest Scott Santi sold 41,431 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the sale, the director directly owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Illinois Tool Works Trading Down 0.2%

ITW traded down $0.51 during trading on Friday, hitting $282.23. 869,116 shares of the stock traded hands, compared to its average volume of 1,403,340. The firm has a market capitalization of $80.38 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. The firm has a 50-day moving average of $277.50 and a 200 day moving average of $271.42.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the prior year, the firm posted $2.58 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities 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 declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s payout ratio is 62.38%.

Institutional Investors Weigh In On Illinois Tool Works

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC raised its stake in 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 stake in shares of Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after acquiring an additional 81 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Illinois Tool Works by 20.6% during the second 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 in the last quarter. Sei Investments Co. raised its position in shares of 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 worth $26,401,000 after purchasing an additional 19,248 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Illinois Tool Works by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after purchasing an additional 2,890 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial raised their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. UBS Group restated a “neutral” rating and issued a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Wolfe Research reissued an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Finally, Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company currently 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.