Engineers Gate Manager LP Has $4.50 Million Holdings in Illinois Tool Works Inc. $ITW

Engineers Gate Manager LP boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 18.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,628 shares of the industrial products company’s stock after acquiring an additional 2,611 shares during the period. Engineers Gate Manager LP’s holdings in Illinois Tool Works were worth $4,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ITW. Motiv8 Investments LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $27,000. Kemnay Advisory Services Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $27,000. Continuum Advisory LLC acquired a new stake in Illinois Tool Works during the second quarter valued at approximately $29,000. Wilkerson Advisory Group LLC boosted its holdings in 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. Finally, Meeder Asset Management Inc. grew its position in Illinois Tool Works by 215.0% in the fourth quarter. Meeder Asset Management Inc. now owns 126 shares of the industrial products company’s stock worth $31,000 after buying an additional 86 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Santi sold 41,431 shares of Illinois Tool Works stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the transaction, the director owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This trade represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the company’s 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 in the company, valued at $981,612.68. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. 0.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ITW has been the topic of several research reports. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Truist Financial lifted their target price on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Wolfe Research reaffirmed an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. UBS Group reaffirmed a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Stock Up 1.1%

Shares of NYSE:ITW opened at $268.08 on Friday. The firm has a market cap of $76.35 billion, a P/E ratio of 24.30, a P/E/G ratio of 3.64 and a beta of 0.98. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The business has a fifty day simple moving average of $280.06 and a 200 day simple moving average of $269.62. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating 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 analyst estimates of $4.19 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The business’s revenue 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. Analysts predict that Illinois Tool Works Inc. will post 11.43 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.6%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s payout ratio is currently 58.39%.

Illinois Tool Works Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.