3,235 Shares in Illinois Tool Works Inc. $ITW Bought by Odyssean LLC

Odyssean LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,235 shares of the industrial products company’s stock, valued at approximately $875,000.

A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Illinois Tool Works in the second quarter valued at approximately $6,296,349,000. State Street Corp lifted its stake in Illinois Tool Works by 1.2% during the fourth quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock worth $3,122,535,000 after purchasing an additional 151,864 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Illinois Tool Works by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock valued at $1,709,734,000 after purchasing an additional 184,301 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Illinois Tool Works by 3.2% in the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after purchasing an additional 142,837 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Illinois Tool Works by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock valued at $912,562,000 after purchasing an additional 54,519 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Santi sold 41,431 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total value of $11,894,425.79. Following the completion of the sale, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ITW. UBS Group restated a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Wolfe Research reiterated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Evercore dropped their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. 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 data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Trading Down 0.6%

Shares of ITW stock opened at $269.99 on Friday. The firm has a market capitalization of $76.89 billion, a P/E ratio of 24.48, a P/E/G ratio of 3.68 and a beta of 0.98. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The stock’s fifty day simple moving average is $280.40 and its 200 day simple moving average is $270.63.

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 the consensus estimate 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 firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period last year, the company earned $2.58 earnings per share. The business’s quarterly 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. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

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

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.