2,333 Shares of Illinois Tool Works Inc. $ITW Purchased by Norris Perne & French LLP MI

Norris Perne & French LLP MI bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,333 shares of the industrial products company’s stock, valued at approximately $600,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Illinois Tool Works during the 2nd quarter valued at $6,296,349,000. Bank of New York Mellon Corp purchased a new stake in Illinois Tool Works in the second quarter worth $603,166,000. Legal & General Group Plc bought a new stake in shares of Illinois Tool Works during the second quarter worth $500,748,000. Deutsche Bank AG purchased a new stake in Illinois Tool Works in the 2nd quarter valued at about $221,746,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Illinois Tool Works in the second quarter valued at approximately $209,959,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 1.2%

NYSE:ITW opened at $275.80 on Friday. The company’s 50-day simple moving average is $271.82 and its 200-day simple moving average is $268.97. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The stock has a market capitalization of $78.55 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.98 and a beta of 0.96.

Illinois Tool Works (NYSE:ITW) last posted 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. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the previous year, the business posted $2.58 EPS. Illinois Tool Works’s revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 11.42 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a $1.72 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 62.38%.

Insiders Place Their Bets

In other news, Director Ernest Santi sold 41,431 shares of the firm’s stock in a transaction on 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 completion of the sale, the director owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matteo C. 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 value 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. The trade was a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ITW shares. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Robert W. Baird upped their target price on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. cut Illinois Tool Works from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $350.00 to $270.00 in a research report on Friday, October 9th. Truist Financial cut their price target on Illinois Tool Works from $308.00 to $297.00 and set a “hold” rating on the stock in a report on Monday, October 5th. Finally, UBS Group set a $277.00 price target on Illinois Tool Works in a research report on Friday, October 9th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus target price of $273.42.

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.