First Horizon Corp Buys 18,280 Shares of Illinois Tool Works Inc. $ITW

First Horizon Corp lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 807.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,544 shares of the industrial products company’s stock after buying an additional 18,280 shares during the period. First Horizon Corp’s holdings in Illinois Tool Works were worth $5,347,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ITW. Cresta Advisors Ltd. purchased a new position in Illinois Tool Works in the 4th quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $27,000. Kemnay Advisory Services Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter worth $28,000. Finally, Beacon Financial Strategies CORP bought a new stake in Illinois Tool Works during the 4th quarter valued at $29,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Evercore lowered their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. JPMorgan Chase & Co. dropped their target price on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Wolfe Research restated an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a report on Thursday. Finally, Barclays lowered their price target 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. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $272.85.

Insider Activity

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

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $265.26 on Friday. The company has a 50 day simple moving average of $257.98 and a two-hundred day simple moving average of $265.20. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The company has a market capitalization of $76.31 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 4.56 and a beta of 1.00. 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) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Analysts expect that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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 given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works’s payout ratio is currently 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.