J. Goldman & Co LP Buys Shares of 150,711 Illinois Tool Works Inc. $ITW

J. Goldman & Co LP purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 150,711 shares of the industrial products company’s stock, valued at approximately $40,763,000. Illinois Tool Works makes up 1.1% of J. Goldman & Co LP’s investment portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. B. Metzler seel. Sohn & Co. AG acquired a new stake in Illinois Tool Works in the second quarter worth approximately $5,017,000. Sanctuary Advisors LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter worth $14,028,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Illinois Tool Works by 3.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock valued at $146,433,000 after buying an additional 21,481 shares during the period. Pacific Heights Asset Management LLC grew its holdings in Illinois Tool Works by 15.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock worth $28,324,000 after acquiring an additional 15,000 shares during the period. Finally, Strs Ohio raised its position in Illinois Tool Works by 20.5% in the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock worth $20,508,000 after acquiring an additional 14,186 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.8%

NYSE:ITW opened at $281.78 on Wednesday. The business’s fifty day moving average price is $278.75 and its 200 day moving average price is $271.54. The firm has a market capitalization of $80.25 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 4.80 and a beta of 0.99. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15.

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

Illinois Tool Works Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Wells Fargo & Company upped their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. 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 note on Thursday, July 2nd. JPMorgan Chase & Co. boosted their target price on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and a consensus price target of $281.25.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 41,431 shares of Illinois Tool Works stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the sale, the director owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This trade represents a 13.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the company’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 directly owned 3,394 shares in the company, valued at $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.83% of the company’s stock.

Illinois Tool Works 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.