Performance Wealth Partners LLC Purchases New Stake in Illinois Tool Works Inc. $ITW

Performance Wealth Partners LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,505 shares of the industrial products company’s stock, valued at approximately $678,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Deutsche Bank AG purchased a new position in shares of Illinois Tool Works during the 2nd quarter worth $221,746,000. Perigon Wealth Management LLC purchased a new stake in shares of Illinois Tool Works in the second quarter valued at about $688,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Illinois Tool Works during the second quarter worth about $1,701,000. Trust Co. of Vermont purchased a new position in Illinois Tool Works during the second quarter worth about $10,640,000. Finally, Principle Wealth Partners LLC acquired a new position in Illinois Tool Works in the 2nd quarter valued at about $1,673,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction dated 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 purchase, the director owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 3,394 shares of the company’s stock, valued at $981,612.68. This trade represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ITW. Wolfe Research restated an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. UBS Group reiterated a “neutral” rating and issued a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Truist Financial increased their price objective on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. 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 note on Wednesday, July 29th. Finally, Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Stock Down 1.1%

NYSE:ITW opened at $287.63 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The stock’s fifty day moving average is $275.71 and its two-hundred day moving average is $270.94. The stock has a market capitalization of $81.92 billion, a price-to-earnings 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 (NYSE:ITW) last issued 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. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 earnings per share. 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 EPS for the current 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 given a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 annualized dividend and a yield of 2.4%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is presently 58.39%.

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.