Man Group plc Takes $14.29 Million Position in Illinois Tool Works Inc. $ITW

Man Group plc acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 52,844 shares of the industrial products company’s stock, valued at approximately $14,293,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after acquiring an additional 81 shares during the last quarter. Sivia Capital Partners LLC grew its position in Illinois Tool Works by 20.6% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 177 shares in the last quarter. Sei Investments Co. raised its position in Illinois Tool Works by 22.0% during the second quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock valued at $26,401,000 after purchasing an additional 19,248 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Illinois Tool Works by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after purchasing an additional 2,890 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ITW shares. UBS Group reissued a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Truist Financial boosted their price target 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. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research report 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. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $254.00 target price on shares of Illinois Tool Works in a research note on Thursday, April 30th. Two 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’s stock. According to MarketBeat, Illinois Tool Works has an average rating of “Reduce” and a consensus price target of $281.25.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 41,431 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the sale, the director directly owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Trading Down 1.4%

ITW opened at $281.43 on Friday. The business has a 50 day simple moving average of $279.56 and a two-hundred day simple moving average of $271.44. The firm has a market capitalization of $80.15 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued 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 firm 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 business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This is a boost 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%.

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.