Illinois Tool Works Inc. $ITW Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 31.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,484 shares of the industrial products company’s stock after selling 17,356 shares during the period. Bank of Nova Scotia’s holdings in Illinois Tool Works were worth $9,757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in shares of 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 valued at $1,399,000 after purchasing an additional 277 shares in the last quarter. Bison Wealth LLC lifted its position in Illinois Tool Works by 2.3% in the 4th 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 during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Illinois Tool Works by 20.6% during the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock worth $257,000 after buying an additional 177 shares during the period. Sei Investments Co. boosted its position in Illinois Tool Works by 22.0% during the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock worth $26,401,000 after acquiring an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in Illinois Tool Works by 2.2% in 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 purchasing an additional 2,890 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Illinois Tool Works from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Wolfe Research reissued an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Weiss Ratings cut Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Evercore lowered their price target on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $274.00.

Insider Buying and Selling

In other news, Director Jennifer F. Scanlon bought 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the purchase, the director directly owned 1,652 shares of the company’s stock, valued at $409,679.48. This trade represents a 95.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by company insiders.

Illinois Tool Works Stock Down 0.0%

Illinois Tool Works stock opened at $282.91 on Monday. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The firm has a market cap of $81.39 billion, a PE ratio of 26.27, a P/E/G ratio of 4.86 and a beta of 1.00. The firm’s 50 day moving average price is $262.39 and its two-hundred day moving average price is $267.08.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) 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 company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business posted $2.38 EPS. The company’s revenue for the quarter 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. On average, research analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given a dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.3%. Illinois Tool Works’s dividend payout ratio (DPR) 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.