Performance Wealth Partners LLC Invests $678,000 in Illinois Tool Works Inc. $ITW

Performance Wealth Partners LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,505 shares of the industrial products company’s stock, valued at approximately $678,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Meridian Wealth Management LLC lifted its holdings in shares of Illinois Tool Works by 1.3% in the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after buying an additional 37 shares during the period. Winnow Wealth LLC grew its holdings in Illinois Tool Works by 1.0% during the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after acquiring an additional 37 shares during the period. Crown Wealth Group LLC raised its position in Illinois Tool Works by 4.0% during the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 37 shares in the last quarter. Revisor Wealth Management LLC lifted its holdings in Illinois Tool Works by 1.4% in the fourth quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock valued at $734,000 after acquiring an additional 39 shares during the period. Finally, Concord Asset Management LLC VA boosted its position in Illinois Tool Works by 1.1% in the 4th quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 39 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ITW shares. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. UBS Group reiterated a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a research report on Wednesday, July 29th. The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Stock Down 1.1%

ITW stock opened at $287.63 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The firm has a 50-day simple moving average of $275.71 and a 200-day simple moving average of $270.94. The stock has a market capitalization of $81.92 billion, a P/E ratio of 26.08, a P/E/G ratio of 4.91 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.Illinois Tool Works’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 annualized dividend and a yield of 2.4%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is currently 58.39%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction dated Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 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 approximately $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.83% of the company’s stock.

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.