Clear Harbor Asset Management LLC Takes $728,000 Position in Illinois Tool Works Inc. $ITW

Clear Harbor Asset Management LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,690 shares of the industrial products company’s stock, valued at approximately $728,000.

A number of other institutional investors have also bought and sold shares of the business. Bank of Nova Scotia bought a new stake in Illinois Tool Works during the second quarter valued at about $7,645,000. Hudson Portfolio Management LLC bought a new position in shares of Illinois Tool Works in the second quarter worth about $585,000. Compass Financial Management LLC purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $697,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $1,063,000. Finally, Alta Advisers Ltd bought a new stake in Illinois Tool Works during the 2nd quarter valued at approximately $276,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial boosted their price target on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. JPMorgan Chase & Co. raised their target price on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Evercore reduced their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and a consensus target price of $281.25.

Illinois Tool Works Stock Down 0.0%

Shares of ITW opened at $282.23 on Monday. The business’s 50 day simple moving average is $278.00 and its 200-day simple moving average is $271.55. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. The stock has a market capitalization of $80.38 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 4.77 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping 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 company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. Illinois Tool Works’s quarterly 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. As a group, equities analysts expect that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a $1.72 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 58.39%.

Insiders Place Their Bets

In other news, CAO Matteo C. 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 transaction, the chief accounting officer owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. The trade was a 7.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jennifer F. Scanlon purchased 806 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.83% of the stock is currently owned by insiders.

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.