Prime Capital Investment Advisors LLC Acquires 2,218 Shares of Illinois Tool Works Inc. $ITW

Prime Capital Investment Advisors LLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 25.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,080 shares of the industrial products company’s stock after purchasing an additional 2,218 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Illinois Tool Works were worth $2,851,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Continuum Advisory LLC purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at approximately $29,000. Wilkerson Advisory Group LLC grew its position in shares of Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock worth $31,000 after buying an additional 52 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Illinois Tool Works in the first quarter worth $32,000. Abound Wealth Management increased its stake in shares of Illinois Tool Works by 178.6% in the second quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock worth $32,000 after buying an additional 75 shares during the last quarter. Finally, Tacita Capital Inc bought a new stake in shares of Illinois Tool Works in the second quarter worth $32,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ITW. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Wolfe Research reissued an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 9th. Robert W. Baird boosted their target price 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. Weiss Ratings downgraded shares of Illinois Tool Works from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. lowered shares of Illinois Tool Works from an “overweight” rating to a “neutral” rating and cut their target price for the company from $350.00 to $270.00 in a research note on Friday, October 9th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $273.42.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo Pigozzo sold 277 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ernest Santi sold 41,431 shares of the stock in a transaction 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 sale, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. This trade represents a 13.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is owned by insiders.

Illinois Tool Works Price Performance

Shares of ITW opened at $276.86 on Thursday. The firm has a market cap of $78.85 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 2.97 and a beta of 0.96. The stock has a 50 day moving average of $272.36 and a 200-day moving average of $268.77. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating 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 return on equity of 101.72% and a net margin of 19.39%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 11.42 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were paid a dividend of $1.72 per share. The ex-dividend date was Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a yield of 2.5%. Illinois Tool Works’s payout ratio is presently 62.38%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW’s operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.