Somerville Kurt F Purchases Shares of 2,720 Illinois Tool Works Inc. $ITW

Somerville Kurt F acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,720 shares of the industrial products company’s stock, valued at approximately $736,000.

A number of other large investors have also recently made changes to their positions in ITW. Cresta Advisors Ltd. purchased a new position in Illinois Tool Works in the 4th quarter worth $25,000. Motiv8 Investments LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth about $27,000. Kemnay Advisory Services Inc. purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $27,000. Abound Wealth Management increased its holdings in shares of Illinois Tool Works by 178.6% in the second quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 75 shares during the period. Finally, Wilkerson Advisory Group LLC increased its holdings in shares of Illinois Tool Works by 77.6% in the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 52 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

In other news, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of 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. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Trading Down 0.2%

Shares of NYSE:ITW opened at $284.18 on Thursday. The business’s 50 day moving average price is $276.94 and its 200-day moving average price is $271.27. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The firm has a market capitalization of $80.93 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 4.81 and a beta of 0.99. 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 (NYSE:ITW) last posted 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. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s payout ratio is presently 58.39%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ITW. UBS Group reaffirmed a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. 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. Robert W. Baird lifted their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Finally, Wells Fargo & Company boosted 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 report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target 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.