Occidental Asset Management LLC Invests $3.92 Million in Illinois Tool Works Inc. $ITW

Occidental Asset Management LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, Holdings Channel reports. The firm acquired 14,499 shares of the industrial products company’s stock, valued at approximately $3,922,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Meridian Wealth Management LLC raised its stake in Illinois Tool Works by 1.3% during the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 37 shares during the last quarter. Winnow Wealth LLC boosted its holdings in Illinois Tool Works by 1.0% in the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock valued at $941,000 after purchasing an additional 37 shares during the period. Crown Wealth Group LLC grew its position in Illinois Tool Works by 4.0% in the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 37 shares during the last quarter. Revisor Wealth Management LLC increased its holdings in shares of Illinois Tool Works by 1.4% during the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock worth $734,000 after purchasing an additional 39 shares during the period. Finally, Concord Asset Management LLC VA increased its holdings in shares of Illinois Tool Works by 1.1% during the 4th quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ITW. Truist Financial increased 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. Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Wolfe Research restated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. Finally, Robert W. Baird raised their target price on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Two investment 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. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $281.25.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction 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. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer F. Scanlon acquired 806 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $287.63 on Tuesday. The firm has a market capitalization of $81.92 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 4.91 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The firm has a 50-day moving average price of $275.71 and a 200 day moving average price of $270.94.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data 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. 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 earnings per share. The company’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. Research analysts anticipate that Illinois Tool Works Inc. will post 11.45 earnings per share 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. Shareholders of record on Wednesday, September 30th will be given a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is a positive change 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 currently 58.39%.

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.