Greg Jennings LLC Makes New Investment in Illinois Tool Works Inc. $ITW

Greg Jennings LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,150 shares of the industrial products company’s stock, valued at approximately $553,000.

Several other large investors have also recently bought and sold shares of the company. Continuum Advisory LLC acquired a new stake in shares of Illinois Tool Works during the second quarter valued at about $29,000. Wilkerson Advisory Group LLC raised its holdings in Illinois Tool Works by 77.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after buying an additional 52 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Illinois Tool Works during the 1st quarter worth approximately $32,000. Abound Wealth Management boosted its position in Illinois Tool Works by 178.6% during the 2nd quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock worth $32,000 after buying an additional 75 shares during the period. Finally, Tacita Capital Inc bought a new stake in Illinois Tool Works during the 2nd quarter worth approximately $32,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.7%

Shares of ITW traded down $1.78 on Monday, reaching $270.50. The company’s stock had a trading volume of 798,346 shares, compared to its average volume of 1,374,840. 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 capitalization of $77.04 billion, a PE ratio of 24.52, a PEG ratio of 2.94 and a beta of 0.96. 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 fifty day moving average of $273.50 and a 200-day moving average of $268.47.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate 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 quarterly revenue 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. Equities analysts predict that Illinois Tool Works Inc. will post 11.42 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were given a dividend of $1.72 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s payout ratio is presently 62.38%.

Wall Street Analyst Weigh In

ITW has been the subject of several recent research reports. JPMorgan Chase & Co. cut shares of Illinois Tool Works from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $350.00 to $270.00 in a research report on Friday, October 9th. Wolfe Research reiterated an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. Truist Financial cut their price target on shares of Illinois Tool Works from $308.00 to $297.00 and set a “hold” rating on the stock in a report on Monday, October 5th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating for the company in a report on Wednesday, September 30th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $273.42.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo Pigozzo sold 277 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Santi sold 41,431 shares of Illinois Tool Works stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the transaction, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is currently owned by company insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW’s operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.