Keebeck Wealth Management Makes New $529,000 Investment in Illinois Tool Works Inc. $ITW

Keebeck Wealth Management acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 1,945 shares of the industrial products company’s stock, valued at approximately $529,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after acquiring an additional 277 shares during the period. Bison Wealth LLC boosted its position in shares of Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after purchasing an additional 81 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Illinois Tool Works by 20.6% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 177 shares in the last quarter. Sei Investments Co. raised its position in shares of Illinois Tool Works by 22.0% during the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock valued at $26,401,000 after purchasing an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Illinois Tool Works by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock valued at $33,845,000 after purchasing an additional 2,890 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, August 13th. The stock was 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 of the company’s stock, valued at $981,612.68. The trade was a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer F. Scanlon acquired 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ITW. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. Truist Financial upped 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. Wells Fargo & Company increased their target price 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. Finally, JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $282.23 on Friday. The firm has a market cap of $80.38 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 4.78 and a beta of 0.99. The firm has a fifty day moving average price of $278.00 and a 200 day moving average price of $271.50. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. 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 (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

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

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.