Elevation Point Wealth Partners LLC Takes Position in Illinois Tool Works Inc. $ITW

Elevation Point Wealth Partners LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,908 shares of the industrial products company's stock, valued at approximately $1,063,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meridian Wealth Management LLC grew 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 worth $694,000 after buying an additional 37 shares in the last quarter. Winnow Wealth LLC raised its position in shares of Illinois Tool Works by 1.0% during 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 lifted its holdings 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 worth $248,000 after acquiring an additional 37 shares during the last quarter. Concord Asset Management LLC VA lifted its holdings in shares of Illinois Tool Works by 1.1% during the 4th quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company's stock worth $884,000 after acquiring an additional 39 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV grew its position in Illinois Tool Works by 2.6% in the fourth quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company's stock worth $384,000 after acquiring an additional 39 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Matteo C. Pigozzo sold 277 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of Illinois Tool Works stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the transaction, the director directly owned 266,288 shares in the company, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group restated a "sell" rating and set a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Weiss Ratings upgraded Illinois Tool Works from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Robert W. Baird increased their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. UBS Group reissued a "neutral" rating and set a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Finally, Wolfe Research restated an "underperform" rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of "Reduce" and a consensus price target of $281.25.

Illinois Tool Works Price Performance

ITW stock opened at $283.97 on Tuesday. The firm has a market cap of $80.88 billion, a P/E ratio of 25.75, a P/E/G ratio of 4.77 and a beta of 0.99. The firm's fifty day moving average is $278.43 and its 200 day moving average is $271.59. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. 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 posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Research analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share 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 paid a $1.72 dividend. 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 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works's dividend payout ratio is presently 58.39%.

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.

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