Northcape Wealth Management LLC Makes New Investment in Illinois Tool Works Inc. $ITW

Northcape Wealth Management LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, Holdings Channel reports. The fund purchased 1,854 shares of the industrial products company’s stock, valued at approximately $501,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITW. Meridian Wealth Management LLC lifted its holdings in shares of Illinois Tool Works by 1.3% during the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after acquiring an additional 37 shares during the last quarter. Winnow Wealth LLC increased its stake in Illinois Tool Works by 1.0% in the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock valued at $941,000 after acquiring an additional 37 shares during the last quarter. Crown Wealth Group LLC raised its position in Illinois Tool Works by 4.0% during the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 37 shares in the last quarter. Concord Asset Management LLC VA lifted its stake in Illinois Tool Works by 1.1% during the fourth quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 39 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV lifted its stake in Illinois Tool Works by 2.6% during the fourth quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ITW shares. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Wells Fargo & Company boosted their target price on Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Robert W. Baird increased their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, UBS Group reissued a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a research note on Wednesday, July 29th. 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.com, the company presently has an average rating of “Reduce” and a consensus price target of $281.25.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction dated 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 completion of the purchase, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. The trade was 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 company insiders.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $284.18 on Thursday. 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 one year low of $238.82 and a one year high of $303.15. The business’s 50 day simple moving average is $276.94 and its two-hundred day simple moving average is $271.27. The stock has a market capitalization of $80.93 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 4.81 and a beta of 0.99.

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 for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm 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 firm posted $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. Analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s payout ratio is 58.39%.

About Illinois Tool Works

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.