First Horizon Corp Increases Stock Position in Illinois Tool Works Inc. $ITW

First Horizon Corp boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 807.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,544 shares of the industrial products company’s stock after acquiring an additional 18,280 shares during the quarter. First Horizon Corp’s holdings in Illinois Tool Works were worth $5,347,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Cresta Advisors Ltd. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth $25,000. Motiv8 Investments LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new stake in Illinois Tool Works in the 4th quarter worth about $27,000. Lodestone Wealth Management LLC bought a new stake in Illinois Tool Works in the 4th quarter worth about $28,000. Finally, Beacon Financial Strategies CORP purchased a new position in Illinois Tool Works in the 4th quarter worth about $29,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Monday, May 4th. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Truist Financial increased their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Evercore dropped their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus price target of $272.85.

Illinois Tool Works Trading Up 0.1%

Illinois Tool Works stock opened at $265.26 on Friday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The firm has a market capitalization of $76.31 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 4.56 and a beta of 1.00. The firm has a 50 day moving average of $257.98 and a 200 day moving average of $265.20. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.09. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, research analysts predict that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.61 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is 59.80%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.83% of the company’s stock.

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.