M&T Bank Corp Acquires 56,821 Shares of Illinois Tool Works Inc. $ITW

M&T Bank Corp increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 131.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,906 shares of the industrial products company’s stock after purchasing an additional 56,821 shares during the quarter. M&T Bank Corp’s holdings in Illinois Tool Works were worth $24,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Capital Research Global Investors boosted its position in Illinois Tool Works by 3.0% during the 3rd quarter. Capital Research Global Investors now owns 4,493,555 shares of the industrial products company’s stock valued at $1,171,740,000 after acquiring an additional 131,702 shares in the last quarter. Fisher Asset Management LLC boosted its position in Illinois Tool Works by 1.5% during the 3rd quarter. Fisher Asset Management LLC now owns 3,650,562 shares of the industrial products company’s stock valued at $951,921,000 after acquiring an additional 55,416 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Illinois Tool Works by 1.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,587,639 shares of the industrial products company’s stock valued at $674,871,000 after acquiring an additional 33,171 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Illinois Tool Works by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,333,765 shares of the industrial products company’s stock valued at $608,552,000 after acquiring an additional 7,372 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Illinois Tool Works by 4.0% during the 3rd quarter. Legal & General Group Plc now owns 2,031,123 shares of the industrial products company’s stock valued at $529,636,000 after acquiring an additional 77,525 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Activity at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 167,345 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the completion of the transaction, the director directly owned 258,766 shares in the company, valued at approximately $75,282,792.38. This trade represents a 39.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Axel Beck sold 4,223 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the completion of the transaction, the executive vice president owned 5,789 shares of the company’s stock, valued at approximately $1,680,083.58. The trade was a 42.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ITW has been the topic of several research reports. The Goldman Sachs Group reaffirmed a “sell” rating and set a $253.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, February 3rd. Wolfe Research lifted their price objective on Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a research report on Friday, February 27th. Citigroup lifted their price objective on Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $270.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. cut their price objective on Illinois Tool Works from $327.00 to $303.00 and set an “overweight” rating on the stock in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $270.00.

Illinois Tool Works Price Performance

ITW stock opened at $267.11 on Thursday. The firm has a 50 day moving average price of $274.52 and a 200-day moving average price of $261.07. Illinois Tool Works Inc. has a 52-week low of $228.76 and a 52-week high of $303.15. The firm has a market capitalization of $76.95 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 4.87 and a beta of 1.13. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.89 and a current ratio of 1.21.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.03. Illinois Tool Works had a net margin of 19.11% and a return on equity of 95.16%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same period last year, the business earned $2.54 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 11.26 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Tuesday, March 31st were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 61.39%.

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.