Fifth Third Bancorp Increases Stake in Illinois Tool Works Inc. $ITW

Fifth Third Bancorp raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 16.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 329,056 shares of the industrial products company’s stock after acquiring an additional 47,585 shares during the period. Fifth Third Bancorp’s holdings in Illinois Tool Works were worth $85,650,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Illinois Tool Works by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. State Street Corp boosted its holdings in Illinois Tool Works by 1.2% in the 4th quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock valued at $3,122,535,000 after purchasing an additional 151,864 shares in the last quarter. Geode Capital Management LLC increased its position in Illinois Tool Works by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after purchasing an additional 184,301 shares during the period. Capital Research Global Investors increased its position in Illinois Tool Works by 3.2% during the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock worth $1,141,948,000 after purchasing an additional 142,837 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Illinois Tool Works by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock worth $912,562,000 after buying an additional 54,519 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

ITW opened at $269.18 on Monday. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The stock has a market cap of $77.44 billion, a P/E ratio of 24.99, a P/E/G ratio of 4.62 and a beta of 1.00. The stock’s 50 day simple moving average is $258.05 and its 200 day simple moving average is $265.32. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86.

Illinois Tool Works (NYSE:ITW) last posted its 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. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the company earned $2.38 earnings per share. Illinois Tool Works’s revenue was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio is presently 59.80%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director owned 1,652 shares of the company’s stock, valued at $409,679.48. The trade was a 95.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of analyst reports. Wolfe Research restated an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday. Evercore cut their price objective on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced their target price on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Truist Financial upped 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. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. One 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 data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $272.85.

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.