Latash Investments LLC Purchases Shares of 2,945 Illinois Tool Works Inc. $ITW

Latash Investments LLC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,945 shares of the industrial products company’s stock, valued at approximately $797,000. Illinois Tool Works makes up 0.6% of Latash Investments LLC’s investment portfolio, making the stock its 9th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Illinois Tool Works during the second quarter valued at $6,296,349,000. Norges Bank bought a new position in Illinois Tool Works in the 4th quarter worth about $808,351,000. Bank of New York Mellon Corp purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $603,166,000. Deutsche Bank AG bought a new stake in shares of Illinois Tool Works during the 2nd quarter valued at about $221,746,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Illinois Tool Works during the second quarter worth about $180,734,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $284.18 on Thursday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a fifty day moving average of $276.94 and a 200-day moving average of $271.27. The stock has a market capitalization of $80.93 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 4.81 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping 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 business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts expect 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. Stockholders of record on Wednesday, September 30th will be paid a $1.72 dividend. 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 dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio is presently 58.39%.

Analysts Set New Price Targets

Several research firms recently weighed in on ITW. The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. Truist Financial increased their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $281.25.

Insider Activity

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

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.