Insider Selling: Illinois Tool Works (NYSE:ITW) CAO Sells $80,113.94 in Stock

Illinois Tool Works Inc. (NYSE:ITW) CAO Matteo Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the transaction, the chief accounting officer owned 3,394 shares in the company, valued at $981,612.68. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW opened at $284.18 on Thursday. The business has a 50-day moving average of $276.94 and a two-hundred day moving average of $271.27. The firm has a market capitalization of $80.93 billion, a PE ratio of 25.76, a P/E/G ratio of 4.81 and a beta of 0.99. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, research analysts forecast that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. 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 payout ratio is presently 58.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ITW. Evercore cut their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. JPMorgan Chase & Co. increased their price target on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Wolfe Research restated an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Wells Fargo & Company upped their target price on Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus price target of $281.25.

Institutional Investors Weigh In On Illinois Tool Works

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Illinois Tool Works by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. BlackRock Inc. bought a new position in Illinois Tool Works during the 2nd quarter worth approximately $6,296,349,000. State Street Corp grew its position in shares of Illinois Tool Works by 1.2% in 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 acquiring an additional 151,864 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Illinois Tool Works by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after acquiring an additional 184,301 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Illinois Tool Works by 3.2% in 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 acquiring an additional 142,837 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

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.