Illinois Tool Works Inc. $ITW Stock Bought by Gradient Investments LLC

Gradient Investments LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 10.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 68,661 shares of the industrial products company’s stock after purchasing an additional 6,573 shares during the quarter. Gradient Investments LLC’s holdings in Illinois Tool Works were worth $17,665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Illinois Tool Works during the 2nd quarter valued at $6,296,349,000. State Street Corp boosted its position in Illinois Tool Works by 1.0% in the 2nd quarter. State Street Corp now owns 12,788,570 shares of the industrial products company’s stock valued at $3,479,219,000 after buying an additional 128,089 shares during the last quarter. Bank of America Corp DE increased its position in shares of Illinois Tool Works by 2.5% during the first quarter. Bank of America Corp DE now owns 3,005,659 shares of the industrial products company’s stock worth $782,343,000 after acquiring an additional 72,951 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $603,166,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Illinois Tool Works by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,045,009 shares of the industrial products company’s stock worth $532,261,000 after acquiring an additional 60,009 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Matteo Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ernest Santi sold 41,431 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total value of $11,894,425.79. Following the sale, the director owned 266,288 shares in the company, valued at $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ITW shares. JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Robert W. Baird increased their target price on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $282.00.

Illinois Tool Works Stock Performance

Shares of ITW stock traded up $2.58 on Thursday, hitting $263.73. 444,509 shares of the stock traded hands, compared to its average volume of 1,379,489. The company’s fifty day moving average is $276.93 and its 200 day moving average is $268.15. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The company has a market capitalization of $75.11 billion, a PE ratio of 23.94, a PEG ratio of 2.88 and a beta of 0.96. 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 (NYSE:ITW) last released its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities research analysts predict that Illinois Tool Works Inc. will post 11.44 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm 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 is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio is 62.38%.

Illinois Tool Works Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces engineered products and systems for customers worldwide. The company serves a broad range of end markets, including automotive, construction, food service, welding, electronics, and general industry.

ITW’s product portfolio includes automotive components and fasteners, commercial food equipment, welding equipment and consumables, test and measurement instruments, electronic components, polymers and fluids, construction fastening systems, and other specialized industrial products.