QRG Capital Management Inc. Buys 3,563 Shares of Illinois Tool Works Inc. $ITW

QRG Capital Management Inc. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 27.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,619 shares of the industrial products company’s stock after purchasing an additional 3,563 shares during the period. QRG Capital Management Inc.’s holdings in Illinois Tool Works were worth $4,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cresta Advisors Ltd. bought a new position in Illinois Tool Works in the 4th quarter worth approximately $25,000. Motiv8 Investments LLC bought a new position in Illinois Tool Works in the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $28,000. Finally, Beacon Financial Strategies CORP bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the topic of several recent research reports. Citigroup raised their price target on Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, May 4th. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Evercore cut their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Barclays reduced their target price on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $273.54.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director directly owned 1,652 shares of the company’s stock, valued at $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Up 0.0%

NYSE:ITW opened at $272.80 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.19 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’s fifty day simple moving average is $258.09 and its 200-day simple moving average is $264.69. The firm has a market capitalization of $78.49 billion, a P/E ratio of 25.33, a P/E/G ratio of 4.69 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company 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 expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio is 59.80%.

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.