NEOS Investment Management LLC Raises Stake in Illinois Tool Works Inc. $ITW

NEOS Investment Management LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 13.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 42,714 shares of the industrial products company’s stock after buying an additional 5,003 shares during the period. NEOS Investment Management LLC’s holdings in Illinois Tool Works were worth $11,553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Continuum Advisory LLC purchased a new position in shares of Illinois Tool Works in the 2nd quarter valued at $29,000. Motiv8 Investments LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth $27,000. Kemnay Advisory Services Inc. acquired a new stake in Illinois Tool Works in the 4th quarter valued at $27,000. Abound Wealth Management raised its position in Illinois Tool Works by 178.6% in 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 during the period. Finally, Wilkerson Advisory Group LLC raised its position in Illinois Tool Works by 77.6% in 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 during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 value of $80,113.94. Following the sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ernest Santi sold 41,431 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the transaction, the director owned 266,288 shares in the company, valued at $76,448,621.92. This trade represents a 13.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ITW has been the subject of several analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Wolfe Research reissued an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. UBS Group reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Robert W. Baird lifted 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, Evercore lowered their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and a consensus price target of $281.25.

Get Our Latest Report on Illinois Tool Works

Illinois Tool Works Trading Down 0.6%

Shares of ITW opened at $269.99 on Friday. The company has a market capitalization of $76.89 billion, a P/E ratio of 24.48, a P/E/G ratio of 3.66 and a beta of 0.98. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. The stock has a 50-day moving average price of $280.40 and a 200 day moving average price of $270.63.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the business earned $2.58 EPS. Illinois Tool Works’s revenue for the quarter was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.5%. 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 payout ratio is presently 58.39%.

About Illinois Tool Works

(Free Report)

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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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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