Wealthfront Advisers LLC Takes Position in Illinois Tool Works Inc. $ITW

Wealthfront Advisers LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 46,413 shares of the industrial products company’s stock, valued at approximately $12,553,000.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after acquiring an additional 277 shares during the last quarter. Bison Wealth LLC lifted its holdings in Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Illinois Tool Works by 20.6% during the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 177 shares during the period. Sei Investments Co. increased its holdings in shares of Illinois Tool Works by 22.0% in the second quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock valued at $26,401,000 after purchasing an additional 19,248 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Illinois Tool Works by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock valued at $33,845,000 after purchasing an additional 2,890 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ITW. Evercore reduced their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Truist Financial upped their target price on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Finally, Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Two equities 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 stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $281.25.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the transaction, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer F. Scanlon bought 806 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Trading Down 0.9%

ITW stock opened at $284.66 on Wednesday. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The company has a market capitalization of $81.07 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 4.91 and a beta of 0.99. The company’s 50-day simple moving average is $276.27 and its 200 day simple moving average is $271.12. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11.

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 for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.58 EPS. 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 year.

Illinois Tool Works Increases Dividend

The firm 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 is Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.39%.

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.