Ernest Scott Santi Sells 41,431 Shares of Illinois Tool Works (NYSE:ITW) Stock

Illinois Tool Works Inc. (NYSE:ITW) Director Ernest Scott Santi sold 41,431 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website.

Illinois Tool Works Stock Down 0.2%

Shares of ITW stock opened at $282.23 on Friday. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The stock has a market cap of $80.38 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.77 and a beta of 0.99. The stock has a 50 day moving average of $278.00 and a 200 day moving average of $271.50. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. 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. Illinois Tool Works’s payout ratio is currently 58.39%.

Hedge Funds Weigh In On Illinois Tool Works

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after buying an additional 277 shares during the last quarter. Bison Wealth LLC raised its holdings in shares of Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after acquiring an additional 81 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Illinois Tool Works by 20.6% in 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. lifted its position in shares of Illinois Tool Works by 22.0% in the second quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock valued at $26,401,000 after acquiring an additional 19,248 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Illinois Tool Works by 2.2% in the second 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 acquiring an additional 2,890 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Wells Fargo & Company lifted their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Monday, May 4th. Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. Finally, Truist Financial increased their price target on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Two research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target 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.