Jennifer Scanlon Purchases 806 Shares of Illinois Tool Works (NYSE:ITW) Stock

Illinois Tool Works Inc. (NYSE:ITW) Director Jennifer Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW opened at $252.48 on Friday. The firm has a market cap of $72.64 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 4.31 and a beta of 1.01. The firm’s 50 day simple moving average is $258.67 and its 200-day simple moving average is $262.46. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is 59.80%.

Hedge Funds Weigh In On Illinois Tool Works

A number of hedge funds and other institutional investors have recently modified their holdings of ITW. Norges Bank bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $808,351,000. Auto Owners Insurance Co boosted its stake in shares of Illinois Tool Works by 24,530.0% during the fourth quarter. Auto Owners Insurance Co now owns 628,065 shares of the industrial products company’s stock valued at $15,469,000 after purchasing an additional 625,515 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Illinois Tool Works by 442.5% during the first quarter. Renaissance Technologies LLC now owns 659,840 shares of the industrial products company’s stock valued at $171,750,000 after purchasing an additional 538,200 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Illinois Tool Works by 1,517.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company’s stock valued at $96,062,000 after purchasing an additional 365,915 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Illinois Tool Works by 11.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company’s stock valued at $815,587,000 after purchasing an additional 353,056 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Barclays reduced their target price on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. Wolfe Research raised their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $271.92.

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.