Perigon Wealth Management LLC Takes Position in Illinois Tool Works Inc. $ITW

Perigon Wealth Management LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, Holdings Channel.com reports. The firm purchased 2,545 shares of the industrial products company’s stock, valued at approximately $688,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Cresta Advisors Ltd. purchased a new stake in Illinois Tool Works in the fourth quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter valued at $27,000. Ares Financial Consulting LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth $31,000. Finally, Wilkerson Advisory Group LLC grew its holdings in shares of Illinois Tool Works by 77.6% in the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 52 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.2%

ITW stock opened at $284.18 on Thursday. 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 Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The business has a 50 day simple moving average of $276.94 and a two-hundred day simple moving average of $271.27. The company has a market capitalization of $80.93 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 4.81 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW) last released 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. 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 analysts’ expectations of $4.19 billion. During the same quarter last year, the business posted $2.58 earnings per share. The company’s revenue for the quarter 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. Research analysts anticipate that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the sale, the chief accounting officer owned 3,394 shares in the company, valued at $981,612.68. The trade was a 7.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer F. Scanlon acquired 806 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the acquisition, the director directly owned 1,652 shares in the company, valued at approximately $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. 0.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wells Fargo & Company upped their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Truist Financial increased their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird raised their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $281.25.

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.