Tocqueville Asset Management L.P. Invests $7.57 Million in Illinois Tool Works Inc. $ITW

Tocqueville Asset Management L.P. purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 27,987 shares of the industrial products company’s stock, valued at approximately $7,570,000.

A number of other large investors have also added to or reduced their stakes in the stock. Meridian Wealth Management LLC boosted its holdings in Illinois Tool Works by 1.3% in the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after acquiring an additional 37 shares in the last quarter. Winnow Wealth LLC raised its position in shares of Illinois Tool Works by 1.0% in the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 37 shares during the last quarter. Crown Wealth Group LLC raised its position in shares of Illinois Tool Works by 4.0% in the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 37 shares during the last quarter. Concord Asset Management LLC VA boosted its stake in Illinois Tool Works by 1.1% in the 4th quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 39 shares in the last quarter. Finally, Planning Alternatives Ltd. ADV increased its stake in Illinois Tool Works by 2.6% during the 4th quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock valued at $384,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $284.18 on Thursday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The firm has a market capitalization of $80.93 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 4.81 and a beta of 0.99. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The firm has a 50 day moving average of $276.94 and a 200 day moving average of $271.27.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results 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 for 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%. During the same period last year, the firm earned $2.58 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors 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 yield of 2.4%. 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 (DPR) is presently 58.39%.

Wall Street Analyst Weigh In

ITW has been the subject of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Finally, Truist Financial boosted their price target on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $281.25.

Insider Activity

In related news, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, with a total value of $199,879.94. Following the transaction, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the business’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 value of $80,113.94. Following the transaction, the chief accounting officer owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.83% of the company’s stock.

Illinois Tool Works 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.