Pinnacle West Asset Management Inc. Takes Position in Illinois Tool Works Inc. $ITW

Pinnacle West Asset Management Inc. bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,745 shares of the industrial products company’s stock, valued at approximately $742,000.

A number of other large investors have also added to or reduced their stakes in ITW. Brighton Jones LLC lifted its stake in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after buying an additional 277 shares during the last quarter. Bison Wealth LLC grew its stake in Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after buying an additional 81 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 177 shares during the period. Sei Investments Co. lifted its position in Illinois Tool Works by 22.0% during the second quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock worth $26,401,000 after acquiring an additional 19,248 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Illinois Tool Works by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after acquiring an additional 2,890 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $282.23 on Friday. The company’s 50-day moving average price is $278.00 and its two-hundred day moving average price is $271.50. The firm has a market cap of $80.38 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.78 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. 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 issued its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $4.30 billion for 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 company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a $1.72 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is 58.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. JPMorgan Chase & Co. boosted 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. Robert W. Baird increased their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. UBS Group reissued a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. Finally, Wolfe Research reissued an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $281.25.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction that occurred on 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ernest Scott Santi sold 41,431 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total value of $11,894,425.79. Following the transaction, 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. 0.83% of the stock is owned by company insiders.

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.