Corient Private Wealth LP Takes Position in Illinois Tool Works Inc. $ITW

Key Points

• Corient Private Wealth acquired 525,151 shares of Illinois Tool Works in the second quarter, valued at approximately $142 million. Institutional investors collectively own 79.77% of the company.
• Illinois Tool Works exceeded quarterly expectations, reporting $2.84 in EPS and $4.30 billion in revenue, while raising its quarterly dividend to $1.72 per share, or a 2.4% annual yield.
• Despite the earnings beat and dividend increase, analysts maintain a consensus “Reduce” rating, with a $281.25 target price compared with the stock’s recent price of $285.54.

Corient Private Wealth LP bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 525,151 shares of the industrial products company's stock, valued at approximately $142,038,000. Corient Private Wealth LP owned 0.18% of Illinois Tool Works as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Port Capital LLC purchased a new stake in Illinois Tool Works during the 2nd quarter valued at $434,000. Caisse de depot et placement du Quebec bought a new position in Illinois Tool Works during the second quarter valued at $103,701,000. Odyssean LLC bought a new position in Illinois Tool Works during the second quarter valued at $875,000. Man Group plc purchased a new stake in shares of Illinois Tool Works in the second quarter valued at $14,293,000. Finally, Western Wealth Management LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter worth about $309,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Up 1.4%

NYSE:ITW opened at $285.54 on Thursday. The firm has a 50-day simple moving average of $279.22 and a 200-day simple moving average of $271.52. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The firm has a market cap of $81.32 billion, a P/E ratio of 25.89, a P/E/G ratio of 4.76 and a beta of 0.99. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released 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. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Insider Activity

In other news, Director Ernest Scott Santi sold 41,431 shares of the business'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 transaction, the director directly owned 266,288 shares of the company's stock, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matteo C. Pigozzo sold 277 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the sale, the chief accounting officer owned 3,394 shares of the company's stock, valued at $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wolfe Research reiterated an "underperform" rating and set a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. Wells Fargo & Company boosted their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a research report on Monday, May 4th. Truist Financial upped their target price on Illinois Tool Works from $280.00 to $301.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. UBS Group reissued a "neutral" rating and set a $300.00 price target on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Finally, Evercore dropped their price objective on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Two equities 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. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Reduce" and a consensus target price of $281.25.

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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