Meiji Yasuda Asset Management Co Ltd. Makes New Investment in Illinois Tool Works Inc. $ITW

Meiji Yasuda Asset Management Co Ltd. bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,789 shares of the industrial products company's stock, valued at approximately $8,057,000.

Several other hedge funds also recently modified their holdings of ITW. B. Metzler seel. Sohn & Co. AG bought a new position in Illinois Tool Works in the 2nd quarter worth approximately $5,017,000. Strs Ohio increased its stake in shares of Illinois Tool Works by 20.5% in the 4th quarter. Strs Ohio now owns 83,263 shares of the industrial products company's stock valued at $20,508,000 after buying an additional 14,186 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position 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 acquiring an additional 21,481 shares during the last quarter. Pacific Heights Asset Management LLC lifted its stake 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 valued at $28,324,000 after acquiring an additional 15,000 shares during the period. Finally, MUFG Securities EMEA plc boosted its holdings in Illinois Tool Works by 113.2% in the fourth quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company's stock valued at $2,665,000 after acquiring an additional 5,745 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the sale, the chief accounting officer owned 3,394 shares of the company's stock, valued at $981,612.68. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction dated Tuesday, June 2nd. The shares were purchased 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 trade represents a 95.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ITW shares. JPMorgan Chase & Co. lifted their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Evercore reduced their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Weiss Ratings raised shares of Illinois Tool Works from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $254.00 target price on shares of Illinois Tool Works in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $281.25.

Illinois Tool Works Stock Performance

ITW stock opened at $282.23 on Monday. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The firm has a market cap of $80.38 billion, a PE ratio of 25.59, a P/E/G ratio of 4.77 and a beta of 0.99. The business's 50-day moving average price is $278.00 and its two-hundred day moving average price is $271.55.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.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 previous year, the business posted $2.58 EPS. Illinois Tool Works'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. As a group, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 annualized dividend and a yield of 2.4%. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.61. Illinois Tool Works's payout ratio is presently 58.39%.

Illinois Tool Works Company 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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