Van ECK Associates Corp Sells 10,049 Shares of Illinois Tool Works Inc. $ITW

Van ECK Associates Corp reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 16.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 52,706 shares of the industrial products company’s stock after selling 10,049 shares during the quarter. Van ECK Associates Corp’s holdings in Illinois Tool Works were worth $14,255,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Meridian Wealth Management LLC raised its position in Illinois Tool Works by 1.3% during the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 37 shares in the last quarter. Winnow Wealth LLC increased its stake in shares of Illinois Tool Works by 1.0% in the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock valued at $941,000 after purchasing an additional 37 shares during the last quarter. Crown Wealth Group LLC raised its holdings in shares of Illinois Tool Works by 4.0% during the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock worth $248,000 after buying an additional 37 shares in the last quarter. Planning Alternatives Ltd. ADV lifted its position in shares of Illinois Tool Works by 2.6% during the 4th quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock worth $384,000 after buying an additional 39 shares during the last quarter. Finally, Argos Wealth Advisors LLC lifted its position in shares of Illinois Tool Works by 2.6% during the 1st quarter. Argos Wealth Advisors LLC now owns 1,526 shares of the industrial products company’s stock worth $397,000 after buying an additional 39 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research analyst reports. Truist Financial raised their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company raised their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Evercore reduced their price objective on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. 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 given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Price Performance

ITW stock opened at $275.67 on Tuesday. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The stock has a market capitalization of $78.51 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 4.73 and a beta of 0.99. The company’s 50-day moving average is $280.08 and its 200-day moving average is $271.23. 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 announced 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. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the prior 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. Equities research analysts expect that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.5%. 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. Illinois Tool Works’s dividend payout ratio (DPR) is currently 58.39%.

Insider Activity at Illinois Tool Works

In related news, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction that occurred 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 owned 3,394 shares of the company’s stock, valued at $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ernest Scott Santi sold 41,431 shares of the stock in a transaction 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 directly owned 266,288 shares of the company’s stock, valued at $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.