Envestnet Asset Management Inc. Lowers Stock Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Envestnet Asset Management reduced its Illinois Tool Works stake by 7.9% in the second quarter, selling 35,946 shares and retaining 416,213 shares valued at approximately $112.6 million. Institutional investors and hedge funds collectively own 79.77% of ITW.
• Illinois Tool Works exceeded quarterly expectations, reporting $2.84 in EPS on $4.30 billion in revenue, with revenue up 6.1% year over year. The company issued fiscal 2026 EPS guidance of $11.35–$11.55.
• The company raised its quarterly dividend to $1.72 per share, or $6.88 annually, representing a 2.5% yield. Analysts’ consensus rating remains “Reduce,” with an average price target of $281.25.

Envestnet Asset Management Inc. cut its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 416,213 shares of the industrial products company's stock after selling 35,946 shares during the quarter. Envestnet Asset Management Inc. owned about 0.15% of Illinois Tool Works worth $112,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Illinois Tool Works in the 2nd quarter worth about $6,296,349,000. Norges Bank acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $808,351,000. Bank of New York Mellon Corp bought a new stake in shares of Illinois Tool Works in the second quarter valued at approximately $603,166,000. Legal & General Group Plc acquired a new position in Illinois Tool Works in the 2nd quarter valued at $500,748,000. Finally, Deutsche Bank AG acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth $221,746,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $274.20 on Friday. The firm has a market capitalization of $78.09 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.91 and a beta of 0.98. The firm's 50-day moving average price is $279.66 and its 200-day moving average price is $268.35. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm's revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 11.44 earnings per share 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. Stockholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.61. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works's dividend payout ratio is 58.39%.

Analysts Set New Price Targets

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

Insider Activity at Illinois Tool Works

In related news, CAO Matteo 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 transaction of $80,113.94. Following the completion of the sale, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ernest Santi sold 41,431 shares of the stock in a transaction on Wednesday, August 19th. The shares were 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 directly owned 266,288 shares of the company's stock, valued at $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is owned by insiders.

About Illinois Tool Works

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.

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