Keebeck Wealth Management acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,945 shares of the industrial products company’s stock, valued at approximately $529,000.
Other large investors have also bought and sold shares of the company. Cresta Advisors Ltd. bought a new position in Illinois Tool Works in the 4th quarter valued at approximately $25,000. Motiv8 Investments LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth $27,000. Abound Wealth Management lifted its holdings in shares of Illinois Tool Works by 178.6% during the second quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 75 shares in the last quarter. Finally, Wilkerson Advisory Group LLC lifted its holdings in shares of Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 52 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on ITW shares. Robert W. Baird lifted their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Wells Fargo & Company upped their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Evercore lowered their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $281.25.
Illinois Tool Works Stock Performance
Shares of ITW opened at $282.23 on Friday. The firm has a market capitalization of $80.38 billion, a P/E ratio of 25.59, a PEG ratio of 4.78 and a beta of 0.99. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The business has a fifty day moving average of $278.00 and a 200 day moving average of $271.50.
Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.Illinois Tool Works’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current year.
Illinois Tool Works Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a $1.72 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 58.39%.
Insider Buying and Selling
In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer F. Scanlon purchased 806 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.83% of the stock is currently owned by insiders.
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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