2,250 Shares in Illinois Tool Works Inc. $ITW Acquired by OneAscent Family Office LLC

OneAscent Family Office LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,250 shares of the industrial products company’s stock, valued at approximately $608,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meridian Wealth Management LLC lifted its stake in shares of Illinois Tool Works by 1.3% during the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after buying an additional 37 shares during the period. Winnow Wealth LLC increased its position in shares of Illinois Tool Works by 1.0% in the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock valued at $941,000 after acquiring an additional 37 shares during the period. Crown Wealth Group LLC raised its stake in Illinois Tool Works by 4.0% in the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 37 shares during the last quarter. Concord Asset Management LLC VA raised its stake 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 acquiring an additional 39 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV lifted its position in Illinois Tool Works by 2.6% during the 4th quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock worth $384,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity

In related news, CAO Matteo C. Pigozzo sold 277 shares of the company’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 completion of the transaction, the chief accounting officer 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, the director directly owned 1,652 shares of the company’s stock, valued at $409,679.48. This represents a 95.27% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group reissued a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Truist Financial increased their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, Wolfe Research restated an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $282.49 on Friday. 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 stock has a market capitalization of $80.45 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 4.80 and a beta of 0.99. The firm’s 50 day simple moving average is $277.50 and its 200-day simple moving average is $271.42. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the previous year, the business posted $2.58 EPS. The business’s 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. Analysts expect that Illinois Tool Works Inc. will post 11.45 EPS 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. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 30th. 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%.

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.