The Manufacturers Life Insurance Company Sells 13,712 Shares of Illinois Tool Works Inc. $ITW

The Manufacturers Life Insurance Company trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,912 shares of the industrial products company’s stock after selling 13,712 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Illinois Tool Works were worth $36,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Y.D. More Investments Ltd purchased a new stake in Illinois Tool Works in the fourth quarter valued at about $2,498,000. Aberdeen Group plc increased its holdings in shares of Illinois Tool Works by 4.7% during the fourth quarter. Aberdeen Group plc now owns 245,504 shares of the industrial products company’s stock valued at $60,468,000 after acquiring an additional 11,035 shares in the last quarter. Strs Ohio increased its holdings in shares of Illinois Tool Works by 20.5% during the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock valued at $20,508,000 after acquiring an additional 14,186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Illinois Tool Works by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock valued at $146,433,000 after purchasing an additional 21,481 shares during the last quarter. Finally, Pacific Heights Asset Management LLC boosted its stake in Illinois Tool Works by 15.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock worth $28,324,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the acquisition, the director owned 1,652 shares of the company’s stock, valued at $409,679.48. This trade represents a 95.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their price target 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. Truist Financial upped their target price 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. UBS Group restated a “neutral” rating and issued a $300.00 target price on shares of Illinois Tool Works in a research note on Wednesday. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a research note on Thursday, April 30th. Finally, Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $281.25.

Illinois Tool Works Trading Down 2.9%

Illinois Tool Works stock opened at $283.87 on Friday. The firm has a market cap of $81.67 billion, a PE ratio of 25.74, a P/E/G ratio of 4.97 and a beta of 1.00. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The stock’s 50 day simple moving average is $265.61 and its two-hundred day simple moving average is $268.12. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the previous year, the business posted $2.58 EPS. The business’s 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. Analysts anticipate that Illinois Tool Works Inc. will post 11.5 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.61 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.3%. Illinois Tool Works’s dividend payout ratio (DPR) is 59.80%.

Illinois Tool Works Company 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.