Ieq Capital LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,782 shares of the industrial products company's stock, valued at approximately $3,998,000.
Other hedge funds have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG acquired a new stake in Illinois Tool Works during the 2nd quarter worth approximately $5,017,000. Strs Ohio raised its stake in shares of 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 purchasing an additional 14,186 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Illinois Tool Works by 3.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company's stock worth $146,433,000 after purchasing an additional 21,481 shares during the last quarter. Pacific Heights Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 15.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company's stock worth $28,324,000 after purchasing an additional 15,000 shares during the period. Finally, MUFG Securities EMEA plc grew its position in 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 valued at $2,665,000 after buying an additional 5,745 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on ITW. Evercore cut their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an "underweight" rating in a report on Monday, May 4th. The Goldman Sachs Group restated a "sell" rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Robert W. Baird lifted their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased 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. 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 MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $281.25.
View Our Latest Stock Analysis on ITW
Illinois Tool Works Price Performance
Illinois Tool Works stock opened at $283.97 on Tuesday. The firm's 50-day moving average is $278.43 and its two-hundred day moving average is $271.59. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. The stock has a market capitalization 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. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15.
Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data 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. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The company's quarterly revenue 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. Equities analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.
Illinois Tool Works Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $1.72 per share. This is a positive change 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 yield of 2.4%. Illinois Tool Works's dividend payout ratio is currently 58.39%.
Insider Activity at Illinois Tool Works
In related news, CAO Matteo C. Pigozzo sold 277 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were 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 directly owned 3,394 shares of the company's stock, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, 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 SEC filing for this sale provides additional information. 0.83% of the stock is owned by insiders.
Illinois Tool Works Company 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.
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