HighPoint Advisor Group LLC Acquires 2,811 Shares of Illinois Tool Works Inc. $ITW

HighPoint Advisor Group LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,240 shares of the industrial products company’s stock after purchasing an additional 2,811 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Illinois Tool Works were worth $4,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Illinois Tool Works by 3.0% during the third quarter. Capital Research Global Investors now owns 4,493,555 shares of the industrial products company’s stock valued at $1,171,740,000 after purchasing an additional 131,702 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 1.5% during the third quarter. Fisher Asset Management LLC now owns 3,650,562 shares of the industrial products company’s stock valued at $951,921,000 after purchasing an additional 55,416 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Illinois Tool Works by 1.3% during the third quarter. Ameriprise Financial Inc. now owns 2,587,639 shares of the industrial products company’s stock valued at $674,871,000 after purchasing an additional 33,171 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Illinois Tool Works by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 2,333,765 shares of the industrial products company’s stock valued at $608,552,000 after purchasing an additional 7,372 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research analyst reports. Robert W. Baird set a $278.00 price target on Illinois Tool Works in a report on Wednesday, February 4th. Barclays reduced their price objective on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Finally, UBS Group reiterated a “neutral” rating and set a $285.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $271.92.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $252.16 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The stock has a 50-day moving average price of $267.26 and a 200 day moving average price of $262.04. The stock has a market capitalization of $72.55 billion, a P/E ratio of 23.41, a P/E/G ratio of 4.38 and a beta of 1.04.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business posted $2.38 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 11.36 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio is presently 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.