Integrated Wealth Concepts LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 21.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,919 shares of the industrial products company’s stock after acquiring an additional 2,763 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Illinois Tool Works were worth $4,306,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Motiv8 Investments LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $27,000. Kemnay Advisory Services Inc. bought a new position in Illinois Tool Works in the 4th quarter worth approximately $27,000. Continuum Advisory LLC bought a new position in Illinois Tool Works in the 2nd quarter worth approximately $29,000. Wilkerson Advisory Group LLC lifted its holdings in Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock worth $31,000 after buying an additional 52 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Illinois Tool Works by 215.0% in the 4th quarter. Meeder Asset Management Inc. now owns 126 shares of the industrial products company’s stock valued at $31,000 after buying an additional 86 shares during the last quarter. 79.77% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on ITW shares. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Truist Financial lifted their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $281.25.
Illinois Tool Works Price Performance
Shares of ITW opened at $268.08 on Friday. The stock has a market cap of $76.35 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 3.64 and a beta of 0.98. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The stock’s 50-day moving average price is $280.06 and its two-hundred day moving average price is $269.62. 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 (NYSE:ITW – Get Free Report) last announced its quarterly earnings results 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 return on equity of 101.72% and a net margin of 19.39%.The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the prior year, the business posted $2.58 EPS. Illinois Tool Works’s 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, equities analysts predict that Illinois Tool Works Inc. will post 11.43 earnings per share 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 $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.6%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 58.39%.
Insiders Place Their Bets
In other news, Director Ernest Santi sold 41,431 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the completion of the transaction, the director owned 266,288 shares of the company’s stock, valued at $76,448,621.92. The trade was a 13.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matteo Pigozzo sold 277 shares of the company’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 owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.83% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.
The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.
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