EP Wealth Advisors LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,638 shares of the industrial products company's stock, valued at approximately $2,607,000.
A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Illinois Tool Works by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company's stock worth $6,622,322,000 after acquiring an additional 189,229 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Illinois Tool Works in the 2nd quarter worth about $6,296,349,000. State Street Corp boosted its stake in Illinois Tool Works by 1.2% in the 4th quarter. State Street Corp now owns 12,596,511 shares of the industrial products company's stock worth $3,122,535,000 after purchasing an additional 151,864 shares in the last quarter. Geode Capital Management LLC grew its position in Illinois Tool Works by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company's stock valued at $1,709,734,000 after purchasing an additional 184,301 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Illinois Tool Works by 3.2% during the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company's stock valued at $1,141,948,000 after purchasing an additional 142,837 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on ITW. Wolfe Research reaffirmed an "underperform" rating and issued a $286.00 target price on shares of Illinois Tool Works in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Illinois Tool Works from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Truist Financial raised their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a "hold" rating in a research report on Thursday, July 2nd. UBS Group restated a "neutral" rating and issued a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Finally, Evercore lowered their price objective on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $281.25.
View Our Latest Analysis on Illinois Tool Works
Insiders Place Their Bets
In other news, Director Ernest Scott 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 transaction, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works 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 completion of the sale, the chief accounting officer directly owned 3,394 shares of the company's stock, valued at $981,612.68. The trade was a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is currently owned by insiders.
Illinois Tool Works Price Performance
NYSE ITW opened at $282.23 on Friday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The stock has a 50-day moving average of $278.00 and a 200 day moving average of $271.50. 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 company has a market capitalization of $80.38 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.77 and a beta of 0.99.
Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $4.19 billion. During the same quarter in the prior year, the business earned $2.58 EPS. The business'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. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 11.45 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. Investors of record on Wednesday, September 30th will be issued a $1.72 dividend. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works's dividend payout ratio is 58.39%.
Illinois Tool Works Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW - Free Report).
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