Key Points
- Director Jennifer Scanlon bought 806 shares of Illinois Tool Works on June 2 at an average price of $247.99, increasing her direct holdings by 95.27% to 1,652 shares.
- Illinois Tool Works reported better-than-expected Q1 earnings, posting EPS of $2.66 versus the $2.57 estimate, while revenue came in slightly above forecasts at $4.02 billion.
- The company declared a quarterly dividend of $1.61 per share, payable July 10, which works out to an annualized dividend of $6.44 and a yield of 2.6%.
Illinois Tool Works Inc. (NYSE:ITW - Get Free Report) Director Jennifer Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average cost 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 in the company, valued at $409,679.48. This represents a 95.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Illinois Tool Works Trading Up 0.4%
Shares of ITW stock opened at $251.14 on Friday. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a 50-day simple moving average of $258.95 and a two-hundred day simple moving average of $262.53. The company has a market capitalization of $72.25 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 4.30 and a beta of 1.01. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19.
Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm earned $2.38 EPS. The company's revenue was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Research analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.
Illinois Tool Works Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works's dividend payout ratio is currently 59.80%.
Institutional Trading of Illinois Tool Works
Institutional investors have recently modified their holdings of the business. Cresta Advisors Ltd. purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $25,000. Motiv8 Investments LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $27,000. Kemnay Advisory Services Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $27,000. Lodestone Wealth Management LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $28,000. Finally, Beacon Financial Strategies CORP purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $29,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ITW has been the subject of a number of research reports. Barclays reduced their target price on shares of 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 reissued a "sell" rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Evercore dropped their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Finally, Citigroup upped their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, Illinois Tool Works currently has an average rating of "Reduce" and an average price target of $271.92.
Read Our Latest Stock Report on ITW
Illinois Tool Works Company Profile
(
Get Free Report)
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.
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