Fidelity National Financial Inc. Takes $20.58 Million Position in Illinois Tool Works Inc. $ITW

Fidelity National Financial Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 76,100 shares of the industrial products company’s stock, valued at approximately $20,583,000. Illinois Tool Works comprises approximately 0.7% of Fidelity National Financial Inc.’s investment portfolio, making the stock its 10th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the stock. Aljian Capital Management LLC acquired a new position in Illinois Tool Works during the second quarter valued at approximately $1,979,000. Meeder Advisory Services Inc. bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth $2,128,000. Meeder Asset Management Inc. acquired a new position in Illinois Tool Works in the 2nd quarter valued at $33,000. Tiemann Investment Advisors LLC bought a new position in Illinois Tool Works in the 2nd quarter worth $198,000. Finally, Citizens Financial Group Inc. RI acquired a new position in Illinois Tool Works during the 2nd quarter worth $2,212,000. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, the director owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. 0.83% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on ITW. Truist Financial raised their price target 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. Wolfe Research reissued an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 9th. Robert W. Baird raised their target price on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, UBS Group reiterated a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $281.25.

Illinois Tool Works Trading Down 0.9%

Shares of ITW opened at $284.66 on Wednesday. The stock’s 50-day moving average price is $276.27 and its 200 day moving average price is $271.12. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $81.07 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 4.91 and a beta of 0.99. 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 announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the company earned $2.58 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, research analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.

Illinois Tool Works Increases Dividend

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

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.