Hsbc Holdings PLC Makes New Investment in Illinois Tool Works Inc. $ITW

Hsbc Holdings PLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 777,597 shares of the industrial products company’s stock, valued at approximately $209,959,000. Hsbc Holdings PLC owned about 0.27% of Illinois Tool Works as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Illinois Tool Works during the 2nd quarter worth approximately $6,296,349,000. Norges Bank acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $808,351,000. Bank of New York Mellon Corp acquired a new stake in Illinois Tool Works during the second quarter worth approximately $603,166,000. Legal & General Group Plc bought a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $500,748,000. Finally, Deutsche Bank AG acquired a new position in shares of Illinois Tool Works during the 2nd quarter valued at $221,746,000. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ITW shares. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Truist Financial boosted their target price on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. UBS Group restated a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Finally, Robert W. Baird raised their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $281.25.

Illinois Tool Works Stock Down 0.8%

ITW opened at $281.78 on Wednesday. The company has a 50 day moving average of $278.75 and a 200 day moving average of $271.54. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. 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 cap of $80.25 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

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

Insider Buying and Selling

In related news, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction that occurred 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 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer F. Scanlon acquired 806 shares of the company’s 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 completion of the acquisition, the director directly owned 1,652 shares in the company, valued at $409,679.48. The trade was a 95.27% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.83% of the stock is currently owned by insiders.

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.