Meiji Yasuda Asset Management Co Ltd. Takes Position in Illinois Tool Works Inc. $ITW

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, HoldingsChannel reports. The fund bought 29,789 shares of the industrial products company’s stock, valued at approximately $8,057,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. B. Metzler seel. Sohn & Co. AG bought a new position in Illinois Tool Works in the 2nd quarter valued at about $5,017,000. Strs Ohio raised its position in Illinois Tool Works by 20.5% during the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock valued at $20,508,000 after purchasing an additional 14,186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Illinois Tool Works by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock valued at $146,433,000 after purchasing an additional 21,481 shares in the last quarter. Pacific Heights Asset Management LLC increased its stake in shares of Illinois Tool Works by 15.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock valued at $28,324,000 after purchasing an additional 15,000 shares during the last quarter. Finally, MUFG Securities EMEA plc raised its holdings in shares of Illinois Tool Works by 113.2% during the 4th quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company’s stock worth $2,665,000 after buying an additional 5,745 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value 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 represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction on 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 trade represents a 95.27% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.83% of the stock is owned by insiders.

Illinois Tool Works Stock Down 0.0%

Shares of NYSE ITW opened at $282.23 on Monday. The company has a 50 day simple moving average of $278.00 and a 200 day simple moving average of $271.55. 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 Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The firm has a market cap of $80.38 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.77 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 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 during the quarter, compared to analysts’ expectations 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 was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, research analysts forecast 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 is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is currently 58.39%.

Analysts Set New Price Targets

ITW has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Truist Financial upped their price objective 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. Wolfe Research reissued an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $281.25.

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.