Proficio Capital Partners LLC Takes $504,000 Position in Illinois Tool Works Inc. $ITW

Proficio Capital Partners LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,863 shares of the industrial products company’s stock, valued at approximately $504,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Illinois Tool Works in the 2nd quarter worth approximately $6,296,349,000. Norges Bank bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $808,351,000. Bank of New York Mellon Corp purchased a new position in shares of Illinois Tool Works in the second quarter worth $603,166,000. Legal & General Group Plc purchased a new position in shares of Illinois Tool Works in the second quarter worth $500,748,000. Finally, Deutsche Bank AG bought a new position in shares of Illinois Tool Works during the second quarter worth $221,746,000. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, CAO Matteo C. Pigozzo sold 277 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the sale, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer F. Scanlon acquired 806 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW opened at $281.43 on Friday. The firm has a fifty day simple moving average of $279.56 and a two-hundred day simple moving average of $271.44. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $80.15 billion, a P/E ratio of 25.52, a PEG ratio of 4.82 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the prior year, the company earned $2.58 EPS. The business’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. On average, analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is 58.39%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ITW shares. Weiss Ratings upgraded shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Truist Financial raised their price objective on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $254.00 target price on shares of Illinois Tool Works in a report on Thursday, April 30th. UBS Group reissued a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their price target on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Two equities 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $281.25.

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.