Flputnam Investment Management Co. Boosts Stock Position in Illinois Tool Works Inc. $ITW

Flputnam Investment Management Co. grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 154.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,098 shares of the industrial products company’s stock after buying an additional 20,113 shares during the period. Flputnam Investment Management Co.’s holdings in Illinois Tool Works were worth $8,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ITW. Meridian Wealth Management LLC raised its position in shares of Illinois Tool Works by 1.3% during the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after acquiring an additional 37 shares in the last quarter. Winnow Wealth LLC boosted its holdings in Illinois Tool Works by 1.0% in the fourth 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 in the last quarter. Crown Wealth Group LLC increased its stake in Illinois Tool Works by 4.0% in the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 37 shares during the last quarter. Planning Alternatives Ltd. ADV increased its stake in Illinois Tool Works by 2.6% in the fourth quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock valued at $384,000 after purchasing an additional 39 shares during the last quarter. Finally, Argos Wealth Advisors LLC raised its holdings in Illinois Tool Works by 2.6% during the first quarter. Argos Wealth Advisors LLC now owns 1,526 shares of the industrial products company’s stock worth $397,000 after purchasing an additional 39 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 41,431 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 266,288 shares in the company, valued at $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Matteo C. Pigozzo sold 277 shares of the 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 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $280.19 on Friday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The stock has a market capitalization of $79.80 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 4.73 and a beta of 0.99. The company has a 50-day simple moving average of $279.88 and a 200-day simple moving average of $271.50. 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 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 firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is presently 58.39%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ITW. UBS Group restated a “neutral” rating and issued a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. upped their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Robert W. Baird lifted their target price on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Wolfe Research reissued an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price 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.