Elevation Point Wealth Partners LLC Purchases Shares of 3,908 Illinois Tool Works Inc. $ITW

Elevation Point Wealth Partners LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,908 shares of the industrial products company’s stock, valued at approximately $1,063,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Illinois Tool Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Illinois Tool Works in the 2nd quarter worth about $6,296,349,000. State Street Corp boosted its stake in shares of Illinois Tool Works by 1.2% during the 4th quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock valued at $3,122,535,000 after purchasing an additional 151,864 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Illinois Tool Works by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock valued at $1,709,734,000 after buying an additional 184,301 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Illinois Tool Works by 3.2% during the fourth quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after buying an additional 142,837 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ITW. Truist Financial raised their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Robert W. Baird upped their target price on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Evercore decreased their target price on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their target price on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Stock Up 0.6%

Shares of Illinois Tool Works stock opened at $283.97 on Tuesday. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The firm has a market cap of $80.88 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 4.77 and a beta of 0.99. The company has a 50-day moving average of $278.43 and a 200 day moving average of $271.59. 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 (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 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 analyst estimates of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. Illinois Tool Works’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio (DPR) is currently 58.39%.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 41,431 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director directly owned 1,652 shares of the company’s stock, valued at $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 corporate insiders.

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.