Rep. Richard McCormick Sells Off Shares of Illinois Tool Works Inc. (NYSE:ITW)

Representative Richard McCormick (Republican-Georgia) recently sold shares of Illinois Tool Works Inc. (NYSE:ITW). In a filing disclosed on August 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Illinois Tool Works stock on July 30th. The trade occurred in the Representative’s “GROWTH PARTNERS ROTH IRA” account.

Representative Richard McCormick also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Medtronic (NYSE:MDT) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of L3Harris Technologies (NYSE:LHX) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Intercontinental Exchange (NYSE:ICE) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Emerson Electric (NYSE:EMR) on 7/30/2026.

Illinois Tool Works Trading Down 1.1%

NYSE:ITW opened at $287.63 on Tuesday. The company has a market cap of $81.92 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 4.91 and a beta of 0.99. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The business has a 50 day moving average price of $275.71 and a two-hundred day moving average price of $270.94. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The firm’s revenue for the quarter 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. As a group, analysts expect that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.39%.

Analysts Set New Price Targets

Several brokerages have commented on ITW. Wells Fargo & Company boosted 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. UBS Group reiterated a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $281.25.

Institutional Investors Weigh In On Illinois Tool Works

Several hedge funds have recently added to or reduced their stakes in ITW. Empowered Funds LLC raised its position in shares of Illinois Tool Works by 31.0% in the second quarter. Empowered Funds LLC now owns 87,668 shares of the industrial products company’s stock valued at $23,712,000 after purchasing an additional 20,732 shares during the period. Dearborn Partners LLC acquired a new position in Illinois Tool Works in the 2nd quarter valued at about $29,923,000. Jefferies Financial Group Inc. raised its holdings in Illinois Tool Works by 13.5% in the 2nd quarter. Jefferies Financial Group Inc. now owns 31,604 shares of the industrial products company’s stock valued at $8,548,000 after acquiring an additional 3,768 shares during the period. MASTERINVEST Kapitalanlage GmbH boosted its holdings in shares of Illinois Tool Works by 14.2% during the second quarter. MASTERINVEST Kapitalanlage GmbH now owns 9,043 shares of the industrial products company’s stock worth $2,446,000 after acquiring an additional 1,125 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Illinois Tool Works in the second quarter valued at approximately $504,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, Director Jennifer F. Scanlon purchased 806 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. This represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia’s 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 7th Congressional District. He declared candidacy for the 2026 election.

Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick’s career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

Illinois Tool Works Company 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.