Matteo Pigozzo Sells 277 Shares of Illinois Tool Works (NYSE:ITW) Stock

Illinois Tool Works Inc. (NYSE:ITW) CAO Matteo Pigozzo sold 277 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the sale, the chief accounting officer owned 3,394 shares in the company, valued at $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Illinois Tool Works Trading Down 0.9%

Shares of NYSE:ITW opened at $284.66 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. The stock has a market capitalization of $81.07 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 4.91 and a beta of 0.99. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The company has a 50 day moving average price of $276.27 and a 200 day moving average price of $271.12.

Illinois Tool Works (NYSE:ITW) last posted its quarterly 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 return on equity of 101.72% and a net margin of 19.39%.The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.72 per share. 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 dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 58.39%.

Hedge Funds Weigh In On Illinois Tool Works

Large investors have recently made changes to their positions in the business. Cresta Advisors Ltd. purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $25,000. Motiv8 Investments LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $27,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $27,000. Ares Financial Consulting LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC grew its holdings in shares of Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ITW shares. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Monday, May 4th. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group restated a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. Finally, Robert W. Baird raised their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $281.25.

About Illinois Tool Works

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.