Illinois Tool Works Inc. $ITW Shares Bought by SVB Wealth LLC

SVB Wealth LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 690.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,045 shares of the industrial products company’s stock after purchasing an additional 12,269 shares during the period. SVB Wealth LLC’s holdings in Illinois Tool Works were worth $3,799,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Motiv8 Investments LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $27,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at $27,000. Continuum Advisory LLC purchased a new stake in shares of Illinois Tool Works in the second quarter valued at $29,000. Wilkerson Advisory Group LLC boosted its stake in shares of Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 52 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Illinois Tool Works by 215.0% in the 4th quarter. Meeder Asset Management Inc. now owns 126 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 86 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Illinois Tool Works news, Director Ernest Santi sold 41,431 shares of the 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 owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This trade represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $268.76 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 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 has a 50 day moving average price of $280.40 and a 200 day moving average price of $270.04. The company has a market cap of $76.54 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 3.66 and a beta of 0.98.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. The business’s quarterly revenue 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. Sell-side analysts predict 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. Stockholders of record on Wednesday, September 30th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s payout ratio is 62.38%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research note 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. Truist Financial lifted their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Finally, Wolfe Research reissued an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.