Somerville Kurt F Invests $736,000 in Illinois Tool Works Inc. $ITW

Somerville Kurt F purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,720 shares of the industrial products company’s stock, valued at approximately $736,000.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares in the last quarter. Bison Wealth LLC grew its position in shares of Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Illinois Tool Works by 20.6% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 177 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Illinois Tool Works by 22.0% in the second quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock valued at $26,401,000 after purchasing an additional 19,248 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Illinois Tool Works by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after buying an additional 2,890 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, Director Jennifer F. Scanlon acquired 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director owned 1,652 shares in the company, valued at $409,679.48. The trade was a 95.27% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. The trade was a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group reissued a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Evercore reduced their price target on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. 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, 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 research report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $284.18 on Thursday. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The business’s fifty day simple moving average is $276.94 and its 200-day simple moving average is $271.27. The firm has a market cap of $80.93 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 4.81 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26.

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 for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations 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 business posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities analysts forecast 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. This represents a $6.88 annualized dividend and a yield of 2.4%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s payout ratio is 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.