Northcape Wealth Management LLC Purchases New Holdings in Illinois Tool Works Inc. $ITW

Northcape Wealth Management LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,854 shares of the industrial products company’s stock, valued at approximately $501,000.

A number of other institutional investors have also recently bought and sold shares of the business. Strs Ohio raised its holdings in shares of Illinois Tool Works by 20.5% in the 4th quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock worth $20,508,000 after purchasing an additional 14,186 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Illinois Tool Works by 3.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock valued at $146,433,000 after purchasing an additional 21,481 shares during the period. Pacific Heights Asset Management LLC increased its position in Illinois Tool Works by 15.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock worth $28,324,000 after buying an additional 15,000 shares during the last quarter. MUFG Securities EMEA plc raised its stake in shares of Illinois Tool Works by 113.2% in the fourth quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company’s stock valued at $2,665,000 after buying an additional 5,745 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Illinois Tool Works by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 327,574 shares of the industrial products company’s stock valued at $80,681,000 after buying an additional 9,593 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the purchase, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Trading Down 0.2%

Shares of ITW opened at $284.18 on Thursday. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The stock has a market cap of $80.93 billion, a PE ratio of 25.76, a P/E/G ratio of 4.81 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The business’s 50-day moving average price is $276.94 and its 200-day moving average price is $271.27.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the previous year, the company earned $2.58 earnings per share. Illinois Tool Works’s revenue for the quarter 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. On average, equities analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Wall Street Analyst Weigh In

ITW has been the subject of several research reports. Wolfe Research reiterated an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 9th. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Evercore cut their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $281.25.

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.