Clearstead Trust LLC Makes New Investment in Illinois Tool Works Inc. $ITW

Clearstead Trust LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,040 shares of the industrial products company’s stock, valued at approximately $1,363,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bridgewater Advisors Inc. bought a new position in Illinois Tool Works in the 2nd quarter valued at about $382,000. Laraway Financial Advisors Inc bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $582,000. Abound Wealth Management lifted its stake in shares of Illinois Tool Works by 178.6% in the 2nd quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 75 shares during the period. Annex Advisory Services LLC boosted its holdings in shares of Illinois Tool Works by 2.9% in the second quarter. Annex Advisory Services LLC now owns 2,295 shares of the industrial products company’s stock valued at $621,000 after acquiring an additional 65 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of Illinois Tool Works by 21.5% in the second quarter. JFS Wealth Advisors LLC now owns 226 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 40 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.1%

Shares of Illinois Tool Works stock opened at $290.74 on Friday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The firm has a market capitalization of $82.80 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 4.91 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The stock’s fifty day moving average is $275.01 and its 200-day moving average is $270.65.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.Illinois Tool Works’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 11.45 earnings per share for the current 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 issued a $1.72 dividend. The ex-dividend date is Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio is 58.39%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Jennifer F. Scanlon purchased 806 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares of the company’s stock, valued at $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ITW shares. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Evercore decreased their price target on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Wolfe Research reiterated an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. Robert W. Baird raised their target price on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, UBS Group reaffirmed a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $281.25.

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.