Van Hulzen Asset Management LLC Takes $9.70 Million Position in Illinois Tool Works Inc. $ITW

Van Hulzen Asset Management LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 35,860 shares of the industrial products company’s stock, valued at approximately $9,699,000.

Several other institutional investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC grew its holdings in Illinois Tool Works by 1.3% in the 4th quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after buying an additional 37 shares in the last quarter. Winnow Wealth LLC lifted its holdings in shares of Illinois Tool Works by 1.0% during the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after buying an additional 37 shares in the last quarter. Crown Wealth Group LLC boosted its position in shares of Illinois Tool Works by 4.0% in the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 37 shares during the period. Concord Asset Management LLC VA grew its stake in shares of Illinois Tool Works by 1.1% in the fourth quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company’s stock valued at $884,000 after acquiring an additional 39 shares in the last quarter. Finally, Planning Alternatives Ltd. ADV grew its stake in shares of Illinois Tool Works by 2.6% in the fourth quarter. Planning Alternatives Ltd. ADV now owns 1,558 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 39 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ITW has been the subject of several analyst reports. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. UBS Group reaffirmed a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. Truist Financial lifted their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Evercore cut their price target on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Finally, Wells Fargo & Company increased their price target on Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. 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. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Trading Up 0.6%

ITW opened at $283.97 on Tuesday. The stock has a market capitalization of $80.88 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 4.77 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 twelve month low of $238.82 and a twelve month high of $303.15. The company has a 50-day simple moving average of $278.43 and a 200 day simple moving average of $271.59.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 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 for the quarter, compared to analyst estimates of $4.19 billion. During the same period last year, the firm earned $2.58 EPS. The business’s quarterly 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 predict that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Insiders Place Their Bets

In other news, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction 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 owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. The trade was a 7.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer F. Scanlon acquired 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, the director owned 1,652 shares in the company, valued at $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.83% of the company’s stock.

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.