Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Position in Illinois Tool Works Inc. $ITW

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,392 shares of the industrial products company’s stock after buying an additional 4,313 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Illinois Tool Works were worth $16,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Empower Advisory Group LLC grew its stake in shares of Illinois Tool Works by 3.8% during the second quarter. Empower Advisory Group LLC now owns 370,631 shares of the industrial products company’s stock worth $91,638,000 after acquiring an additional 13,699 shares during the last quarter. Foundations Investment Advisors LLC grew its position in Illinois Tool Works by 33.5% during the 2nd quarter. Foundations Investment Advisors LLC now owns 2,115 shares of the industrial products company’s stock worth $523,000 after purchasing an additional 531 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Illinois Tool Works by 12.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after purchasing an additional 415,982 shares in the last quarter. Advisors Capital Management LLC raised its holdings in shares of Illinois Tool Works by 6.4% in the second quarter. Advisors Capital Management LLC now owns 2,695 shares of the industrial products company’s stock worth $667,000 after buying an additional 161 shares during the last quarter. Finally, Intrua Financial LLC lifted its stake in shares of Illinois Tool Works by 6.3% during the second quarter. Intrua Financial LLC now owns 1,041 shares of the industrial products company’s stock worth $257,000 after buying an additional 62 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of several research reports. Stifel Nicolaus upped their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Finally, The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $262.00.

Illinois Tool Works Price Performance

NYSE:ITW opened at $243.75 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The company has a 50 day moving average price of $253.42 and a 200-day moving average price of $253.05. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The firm has a market cap of $70.71 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.72 by $0.09. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a $1.61 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio is presently 62.46%.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.