Meeder Advisory Services Inc. Acquires New Position in Illinois Tool Works Inc. $ITW

Meeder Advisory Services Inc. bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,869 shares of the industrial products company’s stock, valued at approximately $2,128,000.

Several other institutional investors have also modified their holdings of the company. Cresta Advisors Ltd. purchased a new position in Illinois Tool Works in the 4th quarter valued at approximately $25,000. Motiv8 Investments LLC purchased a new stake in Illinois Tool Works during the fourth quarter worth $27,000. Kemnay Advisory Services Inc. acquired a new stake in Illinois Tool Works in the fourth quarter valued at $27,000. Ares Financial Consulting LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC raised its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.9%

Illinois Tool Works stock opened at $284.66 on Wednesday. The stock has a 50-day moving average price of $276.27 and a 200 day moving average price of $271.12. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The stock has a market cap of $81.07 billion, a PE ratio of 25.81, a P/E/G ratio of 4.91 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 (NYSE:ITW) last released its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.19 billion. During the same period in the prior year, the firm earned $2.58 EPS. The firm’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 research analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is an increase 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%.

Insider Buying and Selling

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the firm’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 sale, the chief accounting officer owned 3,394 shares in the company, valued at $981,612.68. This trade represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ITW shares. Robert W. Baird increased 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. Evercore reduced their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. 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. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Wolfe Research restated an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 9th. Two 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $281.25.

Illinois Tool Works Company 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.