Jupiter Topco LLC Purchases Shares of 36,724 Illinois Tool Works Inc. $ITW

Jupiter Topco LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, HoldingsChannel reports. The fund acquired 36,724 shares of the industrial products company’s stock, valued at approximately $9,933,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $6,296,349,000. State Street Corp increased its position in shares of Illinois Tool Works by 1.2% during the fourth quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock valued at $3,122,535,000 after buying an additional 151,864 shares during the period. Geode Capital Management LLC raised its position in shares of Illinois Tool Works by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after acquiring an additional 184,301 shares in the last quarter. Capital Research Global Investors lifted its position in Illinois Tool Works by 3.2% during the fourth quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after buying an additional 142,837 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Illinois Tool Works by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock worth $912,562,000 after acquiring an additional 54,519 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Up 0.0%

Illinois Tool Works stock opened at $280.19 on Monday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The stock has a fifty day moving average of $279.88 and a 200 day moving average of $271.36. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. The stock has a market cap of $79.80 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 4.73 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (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 business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the company posted $2.58 EPS. The business’s quarterly 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. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a $1.72 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 58.39%.

Insiders Place Their Bets

In other news, CAO Matteo C. Pigozzo sold 277 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer owned 3,394 shares of the company’s stock, valued at $981,612.68. This trade represents 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 purchased 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price 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. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Finally, UBS Group reiterated a “neutral” rating and issued a $300.00 price target on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works has an average 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.