HBK Sorce Advisory LLC Buys Shares of 2,708 Illinois Tool Works Inc. $ITW

HBK Sorce Advisory LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,708 shares of the industrial products company’s stock, valued at approximately $805,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strs Ohio grew its position in shares of Illinois Tool Works by 20.5% during the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock worth $20,508,000 after purchasing an additional 14,186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Illinois Tool Works by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock worth $146,433,000 after purchasing an additional 21,481 shares in the last quarter. Pacific Heights Asset Management LLC lifted its holdings in Illinois Tool Works by 15.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock worth $28,324,000 after purchasing an additional 15,000 shares in the last quarter. MUFG Securities EMEA plc boosted its stake in Illinois Tool Works by 113.2% in the 4th quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company’s stock worth $2,665,000 after purchasing an additional 5,745 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Illinois Tool Works by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 327,574 shares of the industrial products company’s stock worth $80,681,000 after purchasing an additional 9,593 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ITW. Evercore reduced their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Wolfe Research restated an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised their target price 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. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Finally, Robert W. Baird boosted their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $290.74 on Monday. 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. The firm’s fifty day moving average is $275.01 and its 200 day moving average is $270.73. The company has a market cap of $82.80 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 4.91 and a beta of 0.99.

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, topping analysts’ consensus estimates 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 business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same period last year, the company posted $2.58 EPS. The business’s 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 forecast that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a $1.72 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 58.39%.

Insiders Place Their Bets

In related news, Director Jennifer F. Scanlon acquired 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were acquired 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 in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is owned by insiders.

Illinois Tool Works 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.