Flputnam Investment Management Co. Increases Stock Holdings in Illinois Tool Works Inc. $ITW

Flputnam Investment Management Co. boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 154.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,098 shares of the industrial products company’s stock after purchasing an additional 20,113 shares during the period. Flputnam Investment Management Co.’s holdings in Illinois Tool Works were worth $8,952,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ITW. Brighton Jones LLC increased its holdings 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 lifted its holdings in Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after acquiring an additional 81 shares during the last quarter. Sivia Capital Partners LLC grew its position in Illinois Tool Works by 20.6% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 177 shares during the period. Sei Investments Co. increased its stake 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 stake in shares of Illinois Tool Works by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock valued at $33,845,000 after purchasing an additional 2,890 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction of $80,113.94. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director owned 1,652 shares of the company’s stock, valued at $409,679.48. This represents a 95.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITW. Truist Financial raised their price objective on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, Robert W. Baird lifted their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Two 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 data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $280.19 on Friday. The firm has a market cap of $79.80 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 4.73 and a beta of 0.99. 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 company’s 50 day moving average is $279.88 and its two-hundred day moving average is $271.50.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results 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 business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, research analysts expect that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.72 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 annualized dividend and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 58.39%.

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.