Gateway Wealth Partners LLC Purchases New Holdings in Illinois Tool Works Inc. $ITW

Gateway Wealth Partners LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 1,953 shares of the industrial products company’s stock, valued at approximately $509,000.

A number of other hedge funds also recently modified their holdings of ITW. Cresta Advisors Ltd. acquired a new stake in Illinois Tool Works during the fourth quarter worth $25,000. Motiv8 Investments LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $31,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 2.9%

Shares of ITW stock opened at $283.87 on Friday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The company has a market capitalization of $81.67 billion, a P/E ratio of 25.74, a P/E/G ratio of 4.97 and a beta of 1.00. The firm has a 50-day moving average price of $265.61 and a 200 day moving average price of $268.12. The company has a quick ratio of 0.86, 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. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 11.5 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s payout ratio is presently 59.80%.

Wall Street Analyst Weigh In

ITW has been the subject of several recent research reports. Robert W. Baird increased their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Wolfe Research reiterated an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. The Goldman Sachs Group reissued a “sell” rating and issued a $254.00 target price on shares of Illinois Tool Works in a report on Thursday, April 30th. Finally, Evercore cut their target price on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and an average price target of $281.25.

Insider Buying and Selling

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which is available through this link. 0.83% of the stock is currently owned by company insiders.

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.