668,224 Shares in Illinois Tool Works Inc. $ITW Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 668,224 shares of the industrial products company's stock, valued at approximately $180,734,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.23% of Illinois Tool Works at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock worth $1,399,000 after buying an additional 277 shares during the last quarter. Bison Wealth LLC increased its stake in shares of 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 worth $901,000 after acquiring an additional 81 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Illinois Tool Works by 20.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock worth $257,000 after acquiring an additional 177 shares during the period. Sei Investments Co. raised its holdings in shares of 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 boosted its position in shares of Illinois Tool Works by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company's stock valued at $33,845,000 after acquiring an additional 2,890 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ITW. Weiss Ratings upgraded shares of Illinois Tool Works from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Robert W. Baird increased their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Wolfe Research reaffirmed an "underperform" rating and set a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. JPMorgan Chase & Co. upped their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Finally, Evercore cut their target price on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $281.25.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Matteo C. Pigozzo sold 277 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, the chief accounting officer owned 3,394 shares of the company's stock, valued at approximately $981,612.68. This represents a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer F. Scanlon bought 806 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.83% of the company's stock.

Illinois Tool Works Trading Down 1.1%

Shares of ITW stock opened at $287.63 on Tuesday. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The firm has a market cap of $81.92 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 4.91 and a beta of 0.99. The company has a 50-day moving average of $275.71 and a two-hundred day moving average of $270.94. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works's payout ratio is currently 58.39%.

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.

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