Sterling Capital Management LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 366.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,440 shares of the industrial products company’s stock after buying an additional 19,197 shares during the quarter. Sterling Capital Management LLC’s holdings in Illinois Tool Works were worth $6,361,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. Cresta Advisors Ltd. purchased a new stake in Illinois Tool Works in the 4th quarter worth about $25,000. Motiv8 Investments LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $27,000. Kemnay Advisory Services Inc. bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $27,000. Lodestone Wealth Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $28,000. Finally, Beacon Financial Strategies CORP bought a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $29,000. 79.77% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Illinois Tool Works
In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was 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 of the company’s stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.83% of the company’s stock.
Illinois Tool Works Price Performance
Illinois Tool Works (NYSE:ITW – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.57 by $0.09. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.
Illinois Tool Works Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.61 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is currently 59.80%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on ITW shares. Citigroup boosted their price objective on Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Barclays lowered their target price on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Finally, Evercore lowered their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $271.92.
View Our Latest Stock Analysis on ITW
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.
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