5,704 Shares in Illinois Tool Works Inc. $ITW Acquired by Shariaportfolio Inc.

Shariaportfolio Inc. bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the first quarter, Holdings Channel.com reports. The institutional investor bought 5,704 shares of the industrial products company’s stock, valued at approximately $1,485,000. Illinois Tool Works comprises about 0.7% of Shariaportfolio Inc.’s investment portfolio, making the stock its 24th biggest position.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Illinois Tool Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock valued at $6,622,322,000 after purchasing an additional 189,229 shares during the last quarter. State Street Corp grew its stake in Illinois Tool Works by 1.2% during the 4th quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock worth $3,122,535,000 after buying an additional 151,864 shares during the last quarter. Geode Capital Management LLC increased its position in Illinois Tool Works by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock valued at $1,709,734,000 after buying an additional 184,301 shares in the last quarter. Capital Research Global Investors increased its position in Illinois Tool Works by 3.2% during the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after buying an additional 142,837 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Illinois Tool Works by 1.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock valued at $912,562,000 after buying an additional 54,519 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group restated a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Truist Financial lifted 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 note on Thursday, July 2nd. Wolfe Research reissued an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and an average price target of $281.25.

Insider Activity

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, the director directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Up 0.2%

Illinois Tool Works stock opened at $287.51 on Monday. The stock has a 50-day moving average price of $266.31 and a 200 day moving average price of $268.35. The company has a market capitalization of $82.72 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 4.84 and a beta of 0.99. 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 issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping 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 company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the prior year, the company earned $2.58 EPS. Illinois Tool Works’s quarterly revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 11.46 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid a $1.61 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.2%. Illinois Tool Works’s dividend payout ratio 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.