Wealthfront Advisers LLC Has $14.57 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Wealthfront Advisers LLC increased its Illinois Tool Works stake by 11.3% in the first quarter, ending with 55,980 shares worth about $14.57 million.
• Illinois Tool Works reported better-than-expected Q1 earnings, posting EPS of $2.66 versus the $2.57 estimate, while revenue of $4.02 billion also slightly topped forecasts and rose 4.6% year over year.
• The company paid a quarterly dividend of $1.61 per share and drew mixed analyst sentiment, with the overall consensus rating at “Reduce” and an average price target of $274.

Wealthfront Advisers LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 11.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,980 shares of the industrial products company's stock after buying an additional 5,698 shares during the quarter. Wealthfront Advisers LLC's holdings in Illinois Tool Works were worth $14,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. D.A. Davidson & CO. lifted its position in Illinois Tool Works by 2.8% during the 1st quarter. D.A. Davidson & CO. now owns 17,431 shares of the industrial products company's stock worth $4,537,000 after acquiring an additional 475 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Illinois Tool Works by 5.9% in the first quarter. Illinois Municipal Retirement Fund now owns 58,539 shares of the industrial products company's stock worth $15,237,000 after purchasing an additional 3,286 shares during the period. Good Harbor Advisors Inc. bought a new position in shares of Illinois Tool Works in the first quarter worth about $211,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Illinois Tool Works during the 1st quarter worth about $91,000. Finally, Advisors Preferred LLC boosted its stake in Illinois Tool Works by 71.4% during the 1st quarter. Advisors Preferred LLC now owns 1,909 shares of the industrial products company's stock valued at $497,000 after purchasing an additional 795 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Up 4.3%

Illinois Tool Works stock opened at $282.99 on Friday. The business has a 50 day moving average price of $259.45 and a two-hundred day moving average price of $265.96. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The stock has a market cap of $81.42 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 4.66 and a beta of 1.00. 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 data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.09. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.Illinois Tool Works's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.61 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.3%. Illinois Tool Works's payout ratio is currently 59.80%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, with a total value of $199,879.94. Following the acquisition, 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 filing with the SEC, which is accessible through this link. 0.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Wells Fargo & Company increased their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a research report on Monday, May 4th. Weiss Ratings downgraded shares of Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Citigroup reaffirmed a "neutral" rating on shares of Illinois Tool Works in a research report on Monday. Finally, Wolfe Research reiterated an "underperform" rating and set a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $274.00.

Illinois Tool Works 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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