Wealthfront Advisers LLC Buys 5,698 Shares of Illinois Tool Works Inc. $ITW

Wealthfront Advisers LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,980 shares of the industrial products company’s stock after buying an additional 5,698 shares during the period. Wealthfront Advisers LLC’s holdings in Illinois Tool Works were worth $14,571,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ITW. Brighton Jones LLC raised its stake in Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after acquiring an additional 277 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after acquiring an additional 81 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 177 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Illinois Tool Works by 22.0% in the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock worth $26,401,000 after purchasing an additional 19,248 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Illinois Tool Works by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after purchasing an additional 2,890 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

ITW has been the subject of several analyst reports. Evercore cut their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Wolfe Research reaffirmed an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Monday, May 4th. Truist Financial lifted their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings downgraded Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $274.00.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $282.99 on Friday. The stock has a 50-day simple moving average of $259.45 and a 200 day simple moving average of $265.96. The stock has a market capitalization of $81.42 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 4.66 and a beta of 1.00. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio is 59.80%.

Insider Activity at Illinois Tool Works

In related news, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by company insiders.

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.