Sierra Summit Advisors LLC Acquires Shares of 2,808 Illinois Tool Works Inc. $ITW

Sierra Summit Advisors LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 2,808 shares of the industrial products company’s stock, valued at approximately $731,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Meridian Wealth Management LLC boosted its position in shares of Illinois Tool Works by 1.3% in the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 37 shares during the period. Winnow Wealth LLC increased its position in Illinois Tool Works by 1.0% during the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after buying an additional 37 shares during the period. Crown Wealth Group LLC lifted its stake in Illinois Tool Works by 4.0% in the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after buying an additional 37 shares during the last quarter. Mayflower Financial Advisors LLC lifted its stake in Illinois Tool Works by 3.8% in the fourth quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company’s stock valued at $262,000 after buying an additional 39 shares during the last quarter. Finally, Revisor Wealth Management LLC boosted its holdings in shares of Illinois Tool Works by 1.4% in the fourth quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock valued at $734,000 after acquiring an additional 39 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Jennifer F. Scanlon bought 806 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Barclays lowered their price objective on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Finally, Citigroup upped their target price on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $273.54.

Illinois Tool Works Trading Up 0.0%

NYSE:ITW opened at $272.80 on Friday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The stock’s 50 day simple moving average is $258.09 and its 200-day simple moving average is $264.65. The firm has a market cap of $78.49 billion, a P/E ratio of 25.33, a PEG ratio of 4.69 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping 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 firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company earned $2.38 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 59.80%.

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.