Illinois Tool Works Inc. $ITW Shares Purchased by Corient Private Wealth LP

Corient Private Wealth LP boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 112.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 524,153 shares of the industrial products company’s stock after acquiring an additional 277,594 shares during the period. Corient Private Wealth LP’s holdings in Illinois Tool Works were worth $141,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Meridian Wealth Management LLC grew its stake in Illinois Tool Works by 1.3% during the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after buying an additional 37 shares during the last quarter. Winnow Wealth LLC lifted its stake in Illinois Tool Works by 1.0% in the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock valued at $941,000 after buying an additional 37 shares during the last quarter. Crown Wealth Group LLC lifted its stake in Illinois Tool Works by 4.0% in the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after buying an additional 37 shares during the last quarter. Planning Alternatives Ltd. ADV boosted its holdings in shares of Illinois Tool Works by 2.6% during the fourth quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 39 shares during the period. Finally, Argos Wealth Advisors LLC grew its position in shares of Illinois Tool Works by 2.6% during the first quarter. Argos Wealth Advisors LLC now owns 1,526 shares of the industrial products company’s stock worth $397,000 after acquiring an additional 39 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on ITW. Robert W. Baird increased their price objective 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. Truist Financial upped their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Evercore dropped their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Wolfe Research reaffirmed an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. Finally, UBS Group reiterated a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Two 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 stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $281.25.

Insider Activity

In related news, CAO Matteo C. Pigozzo sold 277 shares of the firm’s 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 transaction, the chief accounting officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer F. Scanlon bought 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director owned 1,652 shares of the company’s stock, valued at $409,679.48. This represents a 95.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.83% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW opened at $285.54 on Thursday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The stock’s fifty day moving average is $279.22 and its 200-day moving average is $271.52. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. The firm has a market capitalization of $81.32 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a dividend 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 (DPR) is currently 58.39%.

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.