6,186 Shares in Illinois Tool Works Inc. $ITW Acquired by Principle Wealth Partners LLC

Principle Wealth Partners LLC acquired 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 SEC. The firm acquired 6,186 shares of the industrial products company’s stock, valued at approximately $1,673,000.

Several other hedge funds have also made changes to their positions in ITW. Norges Bank bought a new position in shares of Illinois Tool Works during the 4th quarter worth $808,351,000. Bank of New York Mellon Corp bought a new stake in shares of Illinois Tool Works in the second quarter valued at about $603,166,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Illinois Tool Works in the second quarter valued at about $180,734,000. Auto Owners Insurance Co lifted its stake in Illinois Tool Works by 24,530.0% in the fourth quarter. Auto Owners Insurance Co now owns 628,065 shares of the industrial products company’s stock worth $15,469,000 after acquiring an additional 625,515 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Illinois Tool Works by 442.5% during the 1st quarter. Renaissance Technologies LLC now owns 659,840 shares of the industrial products company’s stock worth $171,750,000 after acquiring an additional 538,200 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Matteo C. Pigozzo sold 277 shares of the company’s 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 transaction, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer F. Scanlon acquired 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the acquisition, the director owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their position. The SEC filing for this purchase provides additional information. 0.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ITW has been the topic of a number of research reports. Evercore cut their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. increased their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. UBS Group reissued a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Truist Financial boosted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $287.63 on Tuesday. The company has a market capitalization of $81.92 billion, a PE ratio of 26.08, a P/E/G ratio of 4.91 and a beta of 0.99. The company has a 50-day simple moving average of $275.71 and a two-hundred day simple moving average of $270.94. 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.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results 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 net margin of 19.39% and a return on equity of 101.72%. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same period last year, the business earned $2.58 EPS. The company’s revenue 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. Research analysts expect that Illinois Tool Works Inc. will post 11.45 EPS 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. Shareholders of record on Wednesday, September 30th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend 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 payout ratio is 58.39%.

Illinois Tool Works 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.