Pinnacle West Asset Management Inc. Makes New $742,000 Investment in Illinois Tool Works Inc. $ITW

Pinnacle West Asset Management Inc. purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,745 shares of the industrial products company’s stock, valued at approximately $742,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Illinois Tool Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after buying an additional 189,229 shares during the period. BlackRock Inc. acquired a new position in shares of Illinois Tool Works in the second quarter valued at approximately $6,296,349,000. State Street Corp increased its position in shares of Illinois Tool Works by 1.2% during the fourth quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock worth $3,122,535,000 after acquiring an additional 151,864 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Illinois Tool Works by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after acquiring an additional 184,301 shares during the period. Finally, Capital Research Global Investors lifted its position in Illinois Tool Works by 3.2% in the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after acquiring an additional 142,837 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In related news, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were 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 in the company, valued at approximately $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the sale, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research reports. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Wolfe Research restated an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Evercore dropped their target price on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Trading Down 0.2%

Shares of NYSE:ITW opened at $282.23 on Friday. The company’s 50-day moving average price is $278.00 and its two-hundred day moving average price is $271.50. 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 current ratio of 1.11 and a quick ratio of 0.81. The stock has a market capitalization of $80.38 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.78 and a beta of 0.99.

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 return on equity of 101.72% and a net margin of 19.39%.The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. Illinois Tool Works’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. On average, equities analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS 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 dividend of $1.72 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is presently 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.