HighTower Advisors LLC Buys 264,312 Shares of Illinois Tool Works Inc. $ITW

HighTower Advisors LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 170.4% during the second quarter, Holdings Channel reports. The fund owned 419,452 shares of the industrial products company’s stock after buying an additional 264,312 shares during the quarter. HighTower Advisors LLC’s holdings in Illinois Tool Works were worth $113,449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Illinois Tool Works during the second quarter worth about $5,017,000. Sanctuary Advisors LLC bought a new position in Illinois Tool Works in the 2nd quarter valued at about $14,028,000. Pacific Heights Asset Management LLC lifted its position in Illinois Tool Works by 15.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock valued at $28,324,000 after acquiring an additional 15,000 shares in the last quarter. Cibc World Market Inc. acquired a new position in Illinois Tool Works during the 2nd quarter valued at about $3,887,000. Finally, MUFG Securities EMEA plc boosted its stake in Illinois Tool Works by 113.2% during the 4th quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company’s stock valued at $2,665,000 after purchasing an additional 5,745 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Transactions at Illinois Tool Works

In related news, Director Ernest Santi sold 41,431 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the sale, the director directly owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matteo Pigozzo sold 277 shares of the company’s stock in a transaction on 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.83% of the company’s stock.

Illinois Tool Works Trading Down 0.0%

NYSE:ITW opened at $269.99 on Monday. The firm has a market capitalization of $76.89 billion, a P/E ratio of 24.48, a P/E/G ratio of 3.66 and a beta of 0.98. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The company has a fifty day moving average of $280.40 and a 200 day moving average of $270.43. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, research analysts predict 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 declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s payout ratio is presently 58.39%.

Wall Street Analyst Weigh In

ITW has been the subject of several recent analyst reports. Wolfe Research reiterated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. UBS Group reissued a “neutral” rating and issued a $300.00 price target on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and an average price target of $281.25.

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.