135,215 Shares in Illinois Tool Works Inc. $ITW Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 135,215 shares of the industrial products company’s stock, valued at approximately $36,572,000.

Other institutional investors also recently modified their holdings of the company. Cresta Advisors Ltd. bought a new position in shares of Illinois Tool Works during the fourth quarter worth about $25,000. Motiv8 Investments LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at approximately $27,000. Kemnay Advisory Services Inc. bought a new stake in Illinois Tool Works in the 4th quarter valued at approximately $27,000. Ares Financial Consulting LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $31,000. Finally, Wilkerson Advisory Group LLC boosted its position in Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 52 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction dated 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 purchase, the director owned 1,652 shares of the company’s stock, valued at $409,679.48. The trade was a 95.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. 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 report on Wednesday, July 29th. Weiss Ratings upgraded shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Evercore cut their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Finally, 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. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Stock Performance

NYSE ITW opened at $285.54 on Thursday. The firm has a market capitalization of $81.32 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The firm’s fifty day moving average price is $279.22 and its two-hundred day moving average price is $271.52. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last 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, research analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given 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 dividend payout ratio (DPR) is presently 58.39%.

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.