Tocqueville Asset Management L.P. Makes New Investment in Illinois Tool Works Inc. $ITW

Key Points

• Tocqueville Asset Management acquired 27,987 shares of Illinois Tool Works worth approximately $7.57 million during the second quarter. Institutional investors collectively own 79.77% of the company.
• Analysts remain cautious, with ITW carrying a consensus “Reduce” rating and a $281.25 price target, despite JPMorgan raising its target to $350 and the stock recently trading at $284.18.
• Illinois Tool Works exceeded quarterly earnings and revenue estimates, while reporting 6.1% year-over-year revenue growth. The company also increased its quarterly dividend to $1.72 per share, representing a 2.4% annualized yield.

Tocqueville Asset Management L.P. acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 27,987 shares of the industrial products company's stock, valued at approximately $7,570,000.

Other large investors have also recently modified their holdings of the company. Bantamac Capital LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $514,000. Tacita Capital Inc bought a new position in Illinois Tool Works during the 2nd quarter worth approximately $32,000. Denali Advisors LLC increased its stake in Illinois Tool Works by 54.5% in the 2nd quarter. Denali Advisors LLC now owns 3,400 shares of the industrial products company's stock worth $920,000 after purchasing an additional 1,200 shares during the period. NewEdge Wealth LLC bought a new stake in Illinois Tool Works in the second quarter valued at approximately $2,228,000. Finally, Flossbach Von Storch SE bought a new stake in Illinois Tool Works in the second quarter valued at approximately $21,711,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Activity at Illinois Tool Works

In other news, Director Jennifer F. Scanlon bought 806 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average price of $247.99 per share, with a total value of $199,879.94. Following the transaction, the director owned 1,652 shares of the company's stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matteo C. 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 value of $80,113.94. Following the completion of the sale, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ITW shares. JPMorgan Chase & Co. raised their target price on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Truist Financial increased 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. Citigroup reissued a "neutral" rating on shares of Illinois Tool Works in a report on Monday, July 13th. Wolfe Research reaffirmed an "underperform" rating and set a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Finally, Robert W. Baird increased their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $281.25.

Illinois Tool Works Trading Down 0.2%

NYSE:ITW opened at $284.18 on Thursday. The company has a 50-day moving average price of $276.94 and a 200-day moving average price of $271.27. The stock has a market cap of $80.93 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 4.81 and a beta of 0.99. 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 12 month low of $238.82 and a 12 month high of $303.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly 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 company 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 company earned $2.58 earnings per share. Illinois Tool Works'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. Equities 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 announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued 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 is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works's dividend payout ratio (DPR) is currently 58.39%.

About Illinois Tool Works

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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