Glenview Trust Co Purchases New Position in Illinois Tool Works Inc. $ITW

Glenview Trust Co acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,708 shares of the industrial products company’s stock, valued at approximately $3,568,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Cresta Advisors Ltd. bought a new stake in Illinois Tool Works during the 4th quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $27,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $27,000. Meeder Asset Management Inc. increased its stake in shares of Illinois Tool Works by 215.0% in the 4th quarter. Meeder Asset Management Inc. now owns 126 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 86 shares during the last quarter. Finally, Sfam LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at approximately $31,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 1.4%

ITW stock opened at $281.43 on Friday. 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 $80.15 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 4.82 and a beta of 0.99. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The business’s fifty day moving average price is $279.56 and its two-hundred day moving average price is $271.44.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 EPS. 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 earnings per share for the current year.

Illinois Tool Works Increases Dividend

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

Wall Street Analyst Weigh In

ITW has been the topic of several research analyst reports. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Robert W. Baird upped their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Wells Fargo & Company lifted their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Monday, May 4th. Wolfe Research reiterated an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 9th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average price target of $281.25.

Insider Transactions at Illinois Tool Works

In related news, Director Jennifer F. Scanlon acquired 806 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the purchase, the director directly owned 1,652 shares in the company, valued at $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction 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 sale, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.83% of the company’s stock.

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.