Patron Partners LLC Takes Position in Illinois Tool Works Inc. $ITW

Patron Partners LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,088 shares of the industrial products company’s stock, valued at approximately $565,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC lifted its position in shares of 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 valued at $694,000 after acquiring an additional 37 shares during the period. Winnow Wealth LLC grew its holdings 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 acquiring an additional 37 shares during the period. Crown Wealth Group LLC increased its stake in 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 valued at $248,000 after purchasing an additional 37 shares in the last quarter. Concord Asset Management LLC VA raised its holdings in Illinois Tool Works by 1.1% during the fourth 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 during the last quarter. Finally, Planning Alternatives Ltd. ADV raised its holdings in 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 worth $384,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, CAO Matteo C. Pigozzo sold 277 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer owned 3,394 shares of the company’s stock, valued at $981,612.68. This 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 at this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the transaction, the director directly owned 266,288 shares in the company, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their position. The SEC filing for this sale provides additional information. 0.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ITW has been the topic of several recent research reports. Evercore decreased their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. UBS Group restated a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wolfe Research reiterated an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Two investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $282.23 on Friday. The business’s fifty day moving average price is $278.00 and its 200 day moving average price is $271.50. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. 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 stock has a market capitalization of $80.38 billion, a P/E ratio of 25.59, a PEG ratio of 4.78 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, 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 firm 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 is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio is currently 58.39%.

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.