Plato Investment Management Ltd Invests $3.58 Million in Illinois Tool Works Inc. $ITW

Plato Investment Management Ltd bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,320 shares of the industrial products company’s stock, valued at approximately $3,582,000.

Other large investors have also recently modified their holdings of the company. Meridian Wealth Management LLC lifted its holdings in shares of Illinois Tool Works by 1.3% in 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 period. Winnow Wealth LLC lifted its position in Illinois Tool Works by 1.0% during the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock valued at $941,000 after acquiring an additional 37 shares during the last quarter. Crown Wealth Group LLC grew its stake in Illinois Tool Works by 4.0% during the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock worth $248,000 after buying an additional 37 shares during the last quarter. Revisor Wealth Management LLC grew its stake in shares of Illinois Tool Works by 1.4% during the fourth quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock worth $734,000 after acquiring an additional 39 shares during the last quarter. Finally, Concord Asset Management LLC VA raised its holdings in shares of Illinois Tool Works by 1.1% in the fourth quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock worth $884,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent research reports. Truist Financial upped their target price 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. UBS Group reissued a “neutral” rating and issued a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Wolfe Research restated an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. Evercore lowered their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Finally, Robert W. Baird upped their price target on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Two 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 data from MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $290.74 on Monday. 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 quick ratio of 0.81 and a current ratio of 1.11. The firm’s 50 day moving average price is $275.01 and its 200-day moving average price is $270.73. The firm has a market cap of $82.80 billion, a P/E ratio of 26.36, a P/E/G ratio of 4.91 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 (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current 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 given a dividend of $1.72 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio is currently 58.39%.

Insider Transactions at Illinois Tool Works

In related news, Director Jennifer F. Scanlon purchased 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, with a total value 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. This trade represents a 95.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.83% of the stock is owned by corporate insiders.

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.