Proficio Capital Partners LLC Buys Shares of 1,863 Illinois Tool Works Inc. $ITW

Proficio Capital Partners LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, Holdings Channel reports. The institutional investor bought 1,863 shares of the industrial products company’s stock, valued at approximately $504,000.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. B. Metzler seel. Sohn & Co. AG acquired a new stake in Illinois Tool Works in the second quarter worth $5,017,000. Sanctuary Advisors LLC bought a new stake in Illinois Tool Works in the 2nd quarter valued at about $14,028,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Illinois Tool Works by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock valued at $146,433,000 after purchasing an additional 21,481 shares during the period. Pacific Heights Asset Management LLC grew its position in Illinois Tool Works by 15.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock worth $28,324,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Illinois Tool Works by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 327,574 shares of the industrial products company’s stock valued at $80,681,000 after purchasing an additional 9,593 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ITW. Wolfe Research reiterated an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 9th. 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. Truist Financial increased their price target 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 raised their price target on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. 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 stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Price Performance

NYSE ITW opened at $269.17 on Thursday. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81. The firm has a market capitalization of $76.66 billion, a PE ratio of 24.40, a P/E/G ratio of 3.66 and a beta of 0.98. The company’s 50 day simple moving average is $280.34 and its 200 day simple moving average is $270.83.

Illinois Tool Works (NYSE:ITW) last released its 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. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS 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. Stockholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 2.6%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s payout ratio is currently 58.39%.

Insider Activity

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of the stock in a transaction that occurred 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 sale, the director directly owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. This represents a 13.46% 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.

About Illinois Tool Works

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.