Hsbc Holdings PLC Sells 16,804 Shares of Illinois Tool Works Inc. $ITW

Hsbc Holdings PLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the second quarter, Holdings Channel reports. The fund owned 777,597 shares of the industrial products company’s stock after selling 16,804 shares during the quarter. Hsbc Holdings PLC’s holdings in Illinois Tool Works were worth $209,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Field & Main Bank purchased a new stake in Illinois Tool Works in the second quarter worth $68,000. Wellington Management Group LLP lifted its position in shares of Illinois Tool Works by 1.0% during the 2nd quarter. Wellington Management Group LLP now owns 7,932 shares of the industrial products company’s stock valued at $2,145,000 after buying an additional 78 shares during the last quarter. Archer Investment Corp purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at $38,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Illinois Tool Works during the 2nd quarter worth $351,000. Finally, Rakuten Investment Management Inc. increased its holdings in Illinois Tool Works by 9.9% in the 2nd quarter. Rakuten Investment Management Inc. now owns 43,511 shares of the industrial products company’s stock worth $11,638,000 after acquiring an additional 3,923 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Matteo Pigozzo sold 277 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Santi sold 41,431 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the sale, the director owned 266,288 shares in the company, valued at $76,448,621.92. The trade was a 13.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $269.99 on Monday. The company has a market cap of $76.89 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 3.66 and a beta of 0.98. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The stock has a 50-day moving average price of $280.40 and a 200-day moving average price of $270.43. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month 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 the consensus estimate of $2.80 by $0.04. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. Illinois Tool Works’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 11.45 earnings per share 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. Stockholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s payout ratio is currently 58.39%.

Analysts Set New Price Targets

Several equities research analysts have commented on ITW shares. Evercore dropped their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Truist Financial lifted their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. UBS Group reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Finally, Wolfe Research reissued an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a report on Thursday, July 9th. 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’s stock. According to MarketBeat, the stock currently has an average 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.