Rep. Richard McCormick Unloads Shares of Illinois Tool Works Inc. (NYSE:ITW)

Representative Richard McCormick (Republican-Georgia) recently sold shares of Illinois Tool Works Inc. (NYSE:ITW). In a filing disclosed on August 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Illinois Tool Works stock on July 30th. The trade occurred in the Representative’s “GROWTH PARTNERS ROTH IRA” account.

Representative Richard McCormick also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Medtronic (NYSE:MDT) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of L3Harris Technologies (NYSE:LHX) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Intercontinental Exchange (NYSE:ICE) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Emerson Electric (NYSE:EMR) on 7/30/2026.

Illinois Tool Works Price Performance

Shares of ITW opened at $287.63 on Tuesday. The firm has a fifty day simple moving average of $275.71 and a two-hundred day simple moving average of $270.94. The firm has a market cap of $81.92 billion, a PE ratio of 26.08, a P/E/G ratio of 4.91 and a beta of 0.99. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same period last year, the business posted $2.58 EPS. The company’s revenue for the quarter 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, equities analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Evercore cut their price target on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Truist Financial raised their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. 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. Robert W. Baird increased their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, UBS Group reiterated a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Two 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, the company has an average rating of “Reduce” and a consensus price target of $281.25.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average cost 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 of the company’s stock, valued at $409,679.48. This represents a 95.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Illinois Tool Works

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Illinois Tool Works by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after buying an additional 189,229 shares during the period. BlackRock Inc. purchased a new position in Illinois Tool Works during the 2nd quarter worth approximately $6,296,349,000. State Street Corp increased its holdings in Illinois Tool Works by 1.2% in the fourth quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock valued at $3,122,535,000 after buying an additional 151,864 shares in the last quarter. Geode Capital Management LLC raised its position in Illinois Tool Works by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after acquiring an additional 184,301 shares during the period. Finally, Capital Research Global Investors lifted its holdings in Illinois Tool Works by 3.2% in the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after purchasing an additional 142,837 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia’s 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 7th Congressional District. He declared candidacy for the 2026 election.

Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick’s career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

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.