Illinois Tool Works Inc. $ITW Stake Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 628,818 shares of the industrial products company’s stock after selling 42,780 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Illinois Tool Works were worth $163,675,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cresta Advisors Ltd. bought a new stake in shares of Illinois Tool Works in the 4th quarter worth $25,000. Motiv8 Investments LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $27,000. Kemnay Advisory Services Inc. bought a new position in Illinois Tool Works during the fourth quarter valued at about $27,000. Lodestone Wealth Management LLC acquired a new position in Illinois Tool Works during the fourth quarter worth about $28,000. Finally, Beacon Financial Strategies CORP bought a new stake in Illinois Tool Works in the fourth quarter worth about $29,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.1%

ITW stock opened at $265.26 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. The firm has a market capitalization of $76.31 billion, a P/E ratio of 24.63, a P/E/G ratio of 4.56 and a beta of 1.00. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company’s 50 day simple moving average is $257.98 and its 200-day simple moving average is $265.20.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business posted $2.38 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 59.80%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ITW shares. Citigroup upped their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Wolfe Research reiterated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a report on Thursday. Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Truist Financial raised their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, Barclays decreased their price target on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and an average price target of $272.85.

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.