Simplicity Wealth LLC Buys Shares of 4,179 Illinois Tool Works Inc. $ITW

Simplicity Wealth LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,179 shares of the industrial products company’s stock, valued at approximately $1,130,000.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Illinois Tool Works during the fourth quarter worth about $808,351,000. Bank of New York Mellon Corp acquired a new stake in Illinois Tool Works in the 2nd quarter valued at about $603,166,000. Auto Owners Insurance Co lifted its stake in Illinois Tool Works by 24,530.0% in the 4th quarter. Auto Owners Insurance Co now owns 628,065 shares of the industrial products company’s stock worth $15,469,000 after purchasing an additional 625,515 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Illinois Tool Works by 442.5% during the 1st quarter. Renaissance Technologies LLC now owns 659,840 shares of the industrial products company’s stock worth $171,750,000 after purchasing an additional 538,200 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Illinois Tool Works by 1,517.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company’s stock valued at $96,062,000 after purchasing an additional 365,915 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.0%

ITW opened at $290.74 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The firm has a market cap of $82.80 billion, a P/E ratio of 26.36, a P/E/G ratio of 4.91 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 business has a fifty day simple moving average of $275.01 and a 200-day simple moving average of $270.73.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results 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. The business had revenue of $4.30 billion for 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 business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities analysts expect 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. Investors of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.4%. 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. Illinois Tool Works’s payout ratio is presently 58.39%.

Analysts Set New Price Targets

ITW has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, Evercore reduced their target price on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Illinois Tool Works has an average rating of “Reduce” and an average price target of $281.25.

Insider Buying and Selling

In related news, Director Jennifer F. Scanlon purchased 806 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by insiders.

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.