Legal & General Group Plc Makes New $500.75 Million Investment in Illinois Tool Works Inc. $ITW

Legal & General Group Plc purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,851,401 shares of the industrial products company’s stock, valued at approximately $500,748,000. Legal & General Group Plc owned about 0.65% of Illinois Tool Works at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $5,017,000. Sanctuary Advisors LLC bought a new stake in Illinois Tool Works in the 2nd quarter valued at $14,028,000. Strs Ohio lifted its holdings in Illinois Tool Works by 20.5% during the 4th 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Illinois Tool Works by 3.8% during 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 during the last quarter. Finally, Pacific Heights Asset Management LLC boosted its position in Illinois Tool Works by 15.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock worth $28,324,000 after purchasing an additional 15,000 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.6%

Shares of Illinois Tool Works stock opened at $283.97 on Tuesday. The firm has a 50-day moving average of $278.43 and a 200-day moving average of $271.59. The stock has a market cap of $80.88 billion, a PE ratio of 25.75, a PEG ratio of 4.77 and a beta of 0.99. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week 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.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same period last year, the firm earned $2.58 earnings per share. Illinois Tool Works’s revenue for the quarter was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS 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. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.72 per share. This is a boost 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%. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s payout ratio is 58.39%.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 41,431 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the completion of the sale, the director directly owned 266,288 shares in the company, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the topic of several research analyst reports. Evercore dropped their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Monday, May 4th. UBS Group restated a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Finally, Robert W. Baird boosted their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Company 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.