Van ECK Associates Corp Has $14.26 Million Stake in Illinois Tool Works Inc. $ITW

Van ECK Associates Corp trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 52,706 shares of the industrial products company’s stock after selling 10,049 shares during the period. Van ECK Associates Corp’s holdings in Illinois Tool Works were worth $14,255,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. BlackRock Inc. bought a new position in Illinois Tool Works during the 2nd quarter valued at about $6,296,349,000. Norges Bank bought a new stake in Illinois Tool Works during the fourth quarter worth about $808,351,000. Bank of New York Mellon Corp acquired a new stake in Illinois Tool Works during the 2nd quarter valued at $603,166,000. Legal & General Group Plc acquired a new stake in shares of Illinois Tool Works in the second quarter valued at $500,748,000. Finally, Deutsche Bank AG bought a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $221,746,000. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Evercore lowered their price objective on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. UBS Group reiterated a “neutral” rating and issued a $300.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Truist Financial increased their target price on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Robert W. Baird lifted their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and an average price target of $281.25.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 41,431 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the transaction, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. The trade was 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 at this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the stock in a transaction dated Thursday, August 13th. The shares were 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Down 1.6%

Illinois Tool Works stock opened at $275.67 on Tuesday. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The firm has a market capitalization of $78.51 billion, a PE ratio of 24.99, a P/E/G ratio of 4.73 and a beta of 0.99. The company’s 50-day moving average is $280.08 and its 200-day moving average is $271.23. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81.

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

Illinois Tool Works 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.