Dickmeyer Boyce Financial Management Inc. Acquires Shares of 6,112 Illinois Tool Works Inc. $ITW

Dickmeyer Boyce Financial Management Inc. bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,112 shares of the industrial products company’s stock, valued at approximately $1,591,000. Illinois Tool Works makes up 0.9% of Dickmeyer Boyce Financial Management Inc.’s investment portfolio, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Meridian Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 1.3% in the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 37 shares during the last quarter. Winnow Wealth LLC raised its stake in shares of Illinois Tool Works by 1.0% during the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after buying an additional 37 shares during the last quarter. Crown Wealth Group LLC boosted its stake in Illinois Tool Works by 4.0% in the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 37 shares during the last quarter. Mayflower Financial Advisors LLC grew its holdings in Illinois Tool Works by 3.8% during the 4th quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 39 shares during the period. Finally, Revisor Wealth Management LLC raised its position in shares of Illinois Tool Works by 1.4% during the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock valued at $734,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $276.59 on Friday. The stock has a 50-day moving average price of $261.69 and a two-hundred day moving average price of $266.84. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company has a market capitalization of $79.57 billion, a PE ratio of 25.68, a P/E/G ratio of 4.71 and a beta of 1.00. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm posted $2.38 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Analysts expect that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 59.80%.

Wall Street Analysts Forecast Growth

ITW has been the topic of several recent research reports. Evercore reduced their price target on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Truist Financial upped their price target on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Wolfe Research restated an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 9th. JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Finally, Weiss Ratings lowered Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $274.00.

Insider Activity

In other news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.83% of the company’s stock.

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.