33,098 Shares in Illinois Tool Works Inc. $ITW Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, Holdings Channel reports. The firm purchased 33,098 shares of the industrial products company’s stock, valued at approximately $8,952,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cresta Advisors Ltd. purchased a new position in Illinois Tool Works during the fourth quarter valued at $25,000. Motiv8 Investments LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $27,000. Ares Financial Consulting LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC lifted its stake in Illinois Tool Works by 77.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after buying an additional 52 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jennifer F. Scanlon purchased 806 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. Evercore decreased their target price on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. UBS Group reaffirmed a “neutral” rating and issued a $300.00 price target on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Wolfe Research reiterated an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 9th. Finally, Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Price Performance

Shares of ITW opened at $290.74 on Monday. The firm has a 50-day simple moving average of $275.01 and a two-hundred day simple moving average of $270.73. The stock has a market cap of $82.80 billion, a PE ratio of 26.36, a P/E/G ratio of 4.91 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 company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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. 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 11.45 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors 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 yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s payout ratio is presently 58.39%.

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.