128,915 Shares in Illinois Tool Works Inc. $ITW Purchased by Commerce Bank

Commerce Bank purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 128,915 shares of the industrial products company’s stock, valued at approximately $34,868,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ITW. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Illinois Tool Works in the second quarter valued at about $5,017,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Illinois Tool Works by 3.8% during 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 during the last quarter. Pacific Heights Asset Management LLC lifted its stake 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 valued at $28,324,000 after buying an additional 15,000 shares in the last quarter. Strs Ohio boosted its holdings in Illinois Tool Works by 20.5% in the 4th quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock worth $20,508,000 after buying an additional 14,186 shares during the last quarter. Finally, MUFG Securities EMEA plc increased its stake in Illinois Tool Works by 113.2% during the 4th quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company’s stock worth $2,665,000 after buying an additional 5,745 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Stock Down 0.2%

ITW stock opened at $282.23 on Friday. 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 has a 50-day moving average of $278.00 and a two-hundred day moving average of $271.50. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company has a market cap of $80.38 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.77 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share 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 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 business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous 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, analysts forecast that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business 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 represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is an increase 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 is presently 58.39%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, with a total value of $199,879.94. Following the transaction, the director owned 1,652 shares in the company, valued at $409,679.48. The trade was a 95.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. This represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is owned by company insiders.

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.