PCM Encore LLC Makes New Investment in Illinois Tool Works Inc. $ITW

PCM Encore LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, Holdings Channel reports. The firm bought 1,859 shares of the industrial products company’s stock, valued at approximately $503,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of Illinois Tool Works by 5.3% during the fourth 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 in the last quarter. Bison Wealth LLC grew its stake in 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 valued at $901,000 after purchasing an additional 81 shares in the last quarter. Sivia Capital Partners LLC grew its stake in 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 valued at $257,000 after purchasing an additional 177 shares in the last quarter. Sei Investments Co. increased its position in Illinois Tool Works by 22.0% in the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock worth $26,401,000 after purchasing an additional 19,248 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake 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 worth $33,845,000 after purchasing an additional 2,890 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ITW. JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Evercore decreased their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Finally, Wells Fargo & Company increased 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. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $281.25.

Insider Buying and Selling

In related news, CAO Matteo C. Pigozzo sold 277 shares of the firm’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 transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jennifer F. Scanlon bought 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Performance

ITW opened at $282.49 on Friday. The company has a market cap of $80.45 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. The stock has a 50-day moving average of $277.50 and a 200-day moving average of $271.42. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-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 issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating 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 analyst estimates of $4.19 billion. During the same quarter in the prior year, the firm posted $2.58 EPS. 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. As a group, equities research 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 declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.72 per share. 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. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio is 58.39%.

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.