Gradient Investments LLC Purchases 1,901 Shares of Illinois Tool Works Inc. $ITW

Gradient Investments LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,088 shares of the industrial products company’s stock after buying an additional 1,901 shares during the quarter. Gradient Investments LLC’s holdings in Illinois Tool Works were worth $16,793,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Illinois Tool Works by 9.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,452 shares of the industrial products company’s stock worth $934,000 after purchasing an additional 295 shares during the period. Trust Point Inc. increased its position in Illinois Tool Works by 24.7% during the 2nd quarter. Trust Point Inc. now owns 2,273 shares of the industrial products company’s stock valued at $615,000 after purchasing an additional 450 shares during the period. First Heartland Consultants Inc. raised its holdings in Illinois Tool Works by 8.9% during the 2nd quarter. First Heartland Consultants Inc. now owns 1,179 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 96 shares during the last quarter. Cooper Financial Group acquired a new position in shares of Illinois Tool Works in the 2nd quarter worth approximately $269,000. Finally, Renaissance Investment Group LLC boosted its stake in shares of Illinois Tool Works by 40.7% in the 2nd quarter. Renaissance Investment Group LLC now owns 1,133 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 328 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

ITW opened at $296.63 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The firm has a 50-day moving average of $270.76 and a 200 day moving average of $269.49. 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 market cap of $85.34 billion, a P/E ratio of 26.89, a PEG ratio of 5.01 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating 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 firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the previous year, the company 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 expect that Illinois Tool Works Inc. will post 11.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ITW. 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. The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a research note on Thursday, April 30th. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Weiss Ratings downgraded Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Wells Fargo & Company increased their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $281.25.

Insider Buying and Selling

In other news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.