HORAN Wealth LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 106.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,206 shares of the industrial products company’s stock after buying an additional 15,588 shares during the quarter. Illinois Tool Works makes up 0.7% of HORAN Wealth LLC’s holdings, making the stock its 27th biggest position. HORAN Wealth LLC’s holdings in Illinois Tool Works were worth $7,821,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of ITW. Cresta Advisors Ltd. purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at about $25,000. Motiv8 Investments LLC purchased a new position in Illinois Tool Works during the fourth quarter worth approximately $27,000. Kemnay Advisory Services Inc. acquired a new stake in Illinois Tool Works in 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 valued at approximately $28,000. Finally, Beacon Financial Strategies CORP purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ITW. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Truist Financial increased their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Wolfe Research reiterated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Weiss Ratings cut shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. One research 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. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $274.00.
Illinois Tool Works Stock Down 1.5%
NYSE ITW opened at $271.94 on Tuesday. The business has a fifty day moving average price of $260.28 and a 200 day moving average price of $266.28. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The company has a market cap of $78.24 billion, a P/E ratio of 25.25, a P/E/G ratio of 4.74 and a beta of 1.00. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.
Illinois Tool Works (NYSE:ITW – Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Research analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.
Illinois Tool Works Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio is currently 59.80%.
Insider Buying and Selling
In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average cost of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director directly owned 1,652 shares of the company’s stock, valued at $409,679.48. This trade represents a 95.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.83% of the company’s stock.
Illinois Tool Works 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.
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