Greenwood Capital Associates LLC Boosts Holdings in Illinois Tool Works Inc. $ITW

Greenwood Capital Associates LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 41.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,709 shares of the industrial products company’s stock after acquiring an additional 2,247 shares during the period. Greenwood Capital Associates LLC’s holdings in Illinois Tool Works were worth $2,085,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ITW. Cresta Advisors Ltd. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $25,000. Motiv8 Investments LLC purchased a new position in Illinois Tool Works during the 4th quarter worth approximately $27,000. Kemnay Advisory Services Inc. purchased a new position in Illinois Tool Works during the 4th quarter worth approximately $27,000. Abound Wealth Management increased its position in Illinois Tool Works by 178.6% during the second quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock worth $32,000 after buying an additional 75 shares during the period. Finally, Wilkerson Advisory Group LLC lifted its stake in 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 buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITW. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. Evercore decreased their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Wolfe Research reiterated an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. Two research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $281.25.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of the business’s stock in a transaction dated 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 purchase, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the firm’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 value of $80,113.94. Following the completion of the sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $280.19 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 firm has a market cap of $79.80 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 4.73 and a beta of 0.99. The firm’s fifty day moving average price is $279.88 and its 200 day moving average price is $271.50. 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 earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS 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 during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter last year, the business earned $2.58 EPS. The business’s 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. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is presently 58.39%.

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.