Jupiter Topco LLC Makes New Investment in Illinois Tool Works Inc. $ITW

Jupiter Topco LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 36,724 shares of the industrial products company’s stock, valued at approximately $9,933,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. J. Goldman & Co LP purchased a new stake in Illinois Tool Works in the 2nd quarter valued at about $40,763,000. Hsbc Holdings PLC bought a new position in shares of Illinois Tool Works in the second quarter valued at approximately $209,959,000. EFG International AG purchased a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $1,984,000. Ancora Advisors LLC bought a new stake in Illinois Tool Works during the second quarter worth $516,000. Finally, PDT Partners LLC bought a new stake in Illinois Tool Works during the second quarter worth $7,879,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITW has been the subject of a number of recent analyst reports. Robert W. Baird upped their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Truist Financial increased 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. Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Monday, May 4th. Finally, Evercore dropped their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Two research 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’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and an average target price of $281.25.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 41,431 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the completion of the transaction, the director directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 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 approximately $981,612.68. The trade was a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Trading Up 0.0%

Shares of ITW stock opened at $280.19 on Monday. The stock has a market capitalization of $79.80 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 4.73 and a beta of 0.99. The company’s fifty day simple moving average is $279.88 and its two-hundred day simple moving average is $271.36. 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 issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the prior year, the firm posted $2.58 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, analysts anticipate that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.72 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.5%. Illinois Tool Works’s payout ratio is currently 58.39%.

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.