Commerce Bank Makes New $34.87 Million Investment in Illinois Tool Works Inc. $ITW

Commerce Bank bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, Holdings Channel.com reports. The firm bought 128,915 shares of the industrial products company’s stock, valued at approximately $34,868,000.

A number of other hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $6,625,000. Quantbot Technologies LP acquired a new position in shares of Illinois Tool Works in the 2nd quarter worth approximately $6,091,000. Evolve Private Wealth LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter worth approximately $420,000. Westpac Banking Corp purchased a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $6,563,000. Finally, TRB Wealth Management LLC acquired a new stake in Illinois Tool Works in the 2nd quarter valued at approximately $405,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction dated Thursday, August 13th. The stock was 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 owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jennifer F. Scanlon acquired 806 shares of the 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 transaction, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The SEC filing for this purchase provides additional information. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $282.23 on Friday. The firm has a 50 day moving average of $278.00 and a two-hundred day moving average of $271.50. The stock has a market capitalization of $80.38 billion, a PE ratio of 25.59, a P/E/G ratio of 4.77 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. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion for 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%.The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, research analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on ITW shares. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Evercore cut their price objective on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Wells Fargo & Company raised their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $281.25.

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.