Illinois Tool Works Inc. $ITW Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 138,912 shares of the industrial products company’s stock after selling 13,712 shares during the period. The Manufacturers Life Insurance Company’s holdings in Illinois Tool Works were worth $36,157,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $808,351,000. Auto Owners Insurance Co lifted its stake in Illinois Tool Works by 24,530.0% in the 4th quarter. Auto Owners Insurance Co now owns 628,065 shares of the industrial products company’s stock worth $15,469,000 after purchasing an additional 625,515 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Illinois Tool Works by 442.5% during the 1st quarter. Renaissance Technologies LLC now owns 659,840 shares of the industrial products company’s stock worth $171,750,000 after purchasing an additional 538,200 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Illinois Tool Works by 1,517.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company’s stock worth $96,062,000 after purchasing an additional 365,915 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Illinois Tool Works by 11.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company’s stock valued at $815,587,000 after purchasing an additional 353,056 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ITW has been the topic of a number of analyst reports. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. JPMorgan Chase & Co. raised their target price on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Wednesday. Evercore reduced their price target on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. The Goldman Sachs Group reissued a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. One 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 company has a consensus rating of “Reduce” and an average price target of $281.25.

Insider Buying and Selling

In related news, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is owned by insiders.

Illinois Tool Works Trading Down 2.9%

Shares of Illinois Tool Works stock opened at $283.87 on Friday. The stock has a 50 day moving average of $265.61 and a 200 day moving average of $268.12. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market capitalization of $81.67 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 4.97 and a beta of 1.00. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating 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 company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. 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. As a group, research analysts predict that Illinois Tool Works Inc. will post 11.5 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were issued a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, June 30th. Illinois Tool Works’s payout ratio is 59.80%.

Illinois Tool Works Profile

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.