Corient Private Wealth LP Purchases 270,852 Shares of Illinois Tool Works Inc. $ITW

Corient Private Wealth LP increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 109.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 517,411 shares of the industrial products company's stock after buying an additional 270,852 shares during the quarter. Corient Private Wealth LP owned 0.18% of Illinois Tool Works worth $139,946,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ITW. Meridian Wealth Management LLC raised its stake in Illinois Tool Works by 1.3% in the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company's stock valued at $694,000 after acquiring an additional 37 shares during the period. Winnow Wealth LLC grew its stake in Illinois Tool Works by 1.0% in the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company's stock valued at $941,000 after buying an additional 37 shares in the last quarter. Crown Wealth Group LLC raised its stake in shares of Illinois Tool Works by 4.0% during the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company's stock valued at $248,000 after purchasing an additional 37 shares during the period. Planning Alternatives Ltd. ADV boosted its stake in Illinois Tool Works by 2.6% in the 4th quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company's stock worth $384,000 after purchasing an additional 39 shares during the period. Finally, Argos Wealth Advisors LLC lifted its holdings in shares of Illinois Tool Works by 2.6% in the first quarter. Argos Wealth Advisors LLC now owns 1,526 shares of the industrial products company's stock worth $397,000 after buying an additional 39 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wolfe Research reaffirmed an "underperform" rating and issued a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. UBS Group reissued a "neutral" rating and issued a $300.00 price target on shares of Illinois Tool Works in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Robert W. Baird lifted their price target on Illinois Tool Works from $278.00 to $297.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Finally, Truist Financial raised their price objective on Illinois Tool Works from $280.00 to $301.00 and gave the company a "hold" rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $281.25.

Insider Activity

In other news, Director Ernest Santi sold 41,431 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total value of $11,894,425.79. Following the completion of the sale, the director owned 266,288 shares of the company's stock, valued at $76,448,621.92. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is owned by company insiders.

Illinois Tool Works Stock Up 1.1%

Illinois Tool Works stock opened at $268.08 on Friday. The stock has a market cap of $76.35 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 3.60 and a beta of 0.98. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. The stock has a fifty day moving average of $280.06 and a 200 day moving average of $269.62. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 11.43 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.6%. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.61. Illinois Tool Works's dividend payout ratio is presently 62.38%.

Illinois Tool Works Profile

Illinois Tool Works Inc NYSE: ITW is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.