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

Proficio Capital Partners LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,863 shares of the industrial products company’s stock, valued at approximately $504,000.

Several other hedge funds have also recently modified their holdings of ITW. Cresta Advisors Ltd. purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at $25,000. Motiv8 Investments LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $27,000. Kemnay Advisory Services Inc. purchased a new position in Illinois Tool Works in the 4th quarter worth about $27,000. Abound Wealth Management lifted its stake in Illinois Tool Works by 178.6% during the 2nd quarter. Abound Wealth Management now owns 117 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 75 shares during the period. Finally, Wilkerson Advisory Group LLC boosted its holdings in shares of Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 1.4%

Shares of ITW stock opened at $281.43 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 company has a market cap of $80.15 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 4.82 and a beta of 0.99. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The firm has a fifty day moving average price of $279.56 and a 200-day moving average price of $271.44.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share 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 represents a $6.88 annualized dividend and a dividend yield of 2.4%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio is 58.39%.

Insider Activity at Illinois Tool Works

In related news, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction that occurred on 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. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, the director owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ITW shares. Truist Financial boosted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a research note on Thursday, April 30th. Evercore lowered their price target on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. raised their price target 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. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus 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.