Focus Partners Advisor Solutions LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,314 shares of the industrial products company's stock, valued at approximately $3,060,000.
Several other large investors have also added to or reduced their stakes in the business. Strs Ohio grew its holdings in Illinois Tool Works by 20.5% during the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company's stock worth $20,508,000 after buying an additional 14,186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Illinois Tool Works by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company's stock worth $146,433,000 after acquiring an additional 21,481 shares during the last quarter. Pacific Heights Asset Management LLC boosted its holdings in Illinois Tool Works by 15.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company's stock worth $28,324,000 after acquiring an additional 15,000 shares during the last quarter. MUFG Securities EMEA plc grew its stake in shares of Illinois Tool Works by 113.2% in the 4th quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company's stock worth $2,665,000 after acquiring an additional 5,745 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Illinois Tool Works by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 327,574 shares of the industrial products company's stock valued at $80,681,000 after purchasing an additional 9,593 shares during the last quarter. Institutional investors own 79.77% of the company's stock.
Illinois Tool Works Stock Performance
NYSE ITW opened at $290.74 on Friday. The company has a market capitalization of $82.80 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 4.91 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 Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a 50-day simple moving average of $275.01 and a 200 day simple moving average of $270.65.
Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share 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 for the quarter, compared to analysts' expectations of $4.19 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The company's quarterly revenue 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. On average, research analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current year.
Illinois Tool Works Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $1.72 dividend. The ex-dividend date is Wednesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a yield of 2.4%. Illinois Tool Works's dividend payout ratio (DPR) is currently 58.39%.
Analyst Upgrades and Downgrades
ITW has been the topic of several analyst reports. Truist Financial boosted their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. The Goldman Sachs Group reissued a "sell" rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. Wells Fargo & Company upped their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a report on Monday, May 4th. Robert W. Baird increased their price target 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. Finally, 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. 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 company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $281.25.
Read Our Latest Analysis on Illinois Tool Works
Insiders Place Their Bets
In other news, Director Jennifer F. Scanlon bought 806 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares of the company's stock, valued at $409,679.48. This represents a 95.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company's stock.
About Illinois Tool Works
(
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.
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