Norris Perne & French LLP MI Buys New Shares in Illinois Tool Works Inc. $ITW

Norris Perne & French LLP MI purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, Holdings Channel.com reports. The firm purchased 2,333 shares of the industrial products company’s stock, valued at approximately $600,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Signaturefd LLC grew its holdings in shares of Illinois Tool Works by 13.3% during the third quarter. Signaturefd LLC now owns 7,986 shares of the industrial products company’s stock valued at $2,055,000 after buying an additional 938 shares during the last quarter. McGuire Investment Group LLC increased its position in shares of Illinois Tool Works by 1.4% in the 3rd quarter. McGuire Investment Group LLC now owns 44,170 shares of the industrial products company’s stock valued at $11,364,000 after acquiring an additional 593 shares during the period. Citizens Financial Group Inc. RI raised its stake in Illinois Tool Works by 31.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 10,741 shares of the industrial products company’s stock worth $2,779,000 after acquiring an additional 2,564 shares during the last quarter. Carolina Wealth Advisors LLC raised its stake in Illinois Tool Works by 1.5% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 9,011 shares of the industrial products company’s stock worth $2,318,000 after acquiring an additional 130 shares during the last quarter. Finally, NTV Asset Management LLC lifted its position in Illinois Tool Works by 16.2% during the 3rd quarter. NTV Asset Management LLC now owns 2,151 shares of the industrial products company’s stock worth $553,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ITW shares. UBS Group set a $277.00 price target on Illinois Tool Works in a research report on Friday, October 9th. Robert W. Baird increased their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Truist Financial reduced their price objective on Illinois Tool Works from $308.00 to $297.00 and set a “hold” rating for the company in a research note on Monday, October 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a report on Thursday, July 9th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $273.42.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Santi sold 41,431 shares of the stock in a transaction dated 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. This trade represents a 13.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matteo Pigozzo sold 277 shares of the 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 sale, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. This represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Down 1.2%

ITW stock opened at $275.80 on Friday. The firm’s fifty day simple moving average is $271.82 and its 200-day simple moving average is $268.97. The company has a market capitalization of $78.55 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. 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 12 month low of $238.82 and a 12 month high of $303.15.

Illinois Tool Works (NYSE:ITW) last released 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. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 11.42 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a $1.72 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio is currently 62.38%.

About Illinois Tool Works

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW’s operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.