The Manufacturers Life Insurance Company Has $36.57 Million Stake in Illinois Tool Works Inc. $ITW

The Manufacturers Life Insurance Company reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,215 shares of the industrial products company’s stock after selling 3,697 shares during the period. The Manufacturers Life Insurance Company’s holdings in Illinois Tool Works were worth $36,572,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ITW. Continuum Advisory LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter valued at about $29,000. Motiv8 Investments LLC acquired a new stake in Illinois Tool Works in the 4th quarter worth approximately $27,000. Kemnay Advisory Services Inc. acquired a new stake in Illinois Tool Works in the 4th quarter worth approximately $27,000. Abound Wealth Management boosted its position in Illinois Tool Works by 178.6% during the second quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 75 shares during the period. Finally, Wilkerson Advisory Group LLC grew its holdings 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 valued at $31,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Santi sold 41,431 shares of the stock in a transaction dated 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 completion of the sale, the director owned 266,288 shares in the company, valued at approximately $76,448,621.92. This trade represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the sale, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ITW shares. Truist Financial lifted their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. UBS Group reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Robert W. Baird raised their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $281.25.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $268.08 on Friday. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company has a market cap of $76.35 billion, a P/E ratio of 24.30, a P/E/G ratio of 3.64 and a beta of 0.98. The business’s 50 day moving average is $280.06 and its two-hundred day moving average is $269.62. 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 quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the prior year, the business earned $2.58 earnings per share. Illinois Tool Works’s revenue for the quarter 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. On average, equities analysts expect that Illinois Tool Works Inc. will post 11.43 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared 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 a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s payout ratio is currently 58.39%.

About Illinois Tool Works

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.