Envestnet Portfolio Solutions Inc. Has $22.22 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Envestnet Portfolio Solutions Inc. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4,323.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 82,141 shares of the industrial products company’s stock after acquiring an additional 80,284 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Illinois Tool Works were worth $22,217,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ITW. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Illinois Tool Works during the 2nd quarter valued at $5,017,000. Sanctuary Advisors LLC acquired a new position in Illinois Tool Works in the 2nd quarter worth about $14,028,000. Cibc World Market Inc. bought a new position in Illinois Tool Works in the second quarter valued at about $3,887,000. MUFG Securities EMEA plc boosted its stake in shares of Illinois Tool Works by 113.2% during the fourth quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company’s stock valued at $2,665,000 after purchasing an additional 5,745 shares in the last quarter. Finally, Sapient Capital LLC grew its holdings in shares of Illinois Tool Works by 227.7% during the second quarter. Sapient Capital LLC now owns 13,611 shares of the industrial products company’s stock worth $3,703,000 after purchasing an additional 9,457 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ITW shares. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. UBS Group restated a “neutral” rating and issued a $300.00 price target on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Truist Financial raised their price target 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. Finally, Weiss Ratings raised shares of 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 assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Trading Up 1.1%

Shares of Illinois Tool Works stock traded up $2.86 during midday trading on Wednesday, reaching $273.33. The company had a trading volume of 1,115,941 shares, compared to its average volume of 1,374,168. The stock has a fifty day moving average price of $279.89 and a 200 day moving average price of $268.41. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The firm has a market cap of $77.85 billion, a PE ratio of 24.78, a P/E/G ratio of 2.86 and a beta of 0.98. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81.

Illinois Tool Works (NYSE:ITW) last released its 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. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 11.43 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 2.5%. This is a boost 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 is currently 58.39%.

Insiders Place Their Bets

In related news, Director Ernest Santi sold 41,431 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the transaction, the director owned 266,288 shares in the company, valued at $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matteo Pigozzo sold 277 shares of the company’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 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 position. The SEC filing for this sale provides additional information. 0.83% of the stock is owned by company insiders.

Illinois Tool Works Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.