OMERS ADMINISTRATION Corp Acquires 10,597 Shares of Illinois Tool Works Inc. $ITW

OMERS ADMINISTRATION Corp boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 84.6% during the 1st quarter, Holdings Channel reports. The firm owned 23,129 shares of the industrial products company’s stock after acquiring an additional 10,597 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Illinois Tool Works were worth $6,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Cresta Advisors Ltd. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $25,000. Motiv8 Investments LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $27,000. Kemnay Advisory Services Inc. purchased a new stake in Illinois Tool Works during the fourth quarter worth about $27,000. Lodestone Wealth Management LLC bought a new stake in Illinois Tool Works in the fourth quarter worth about $28,000. Finally, Ares Financial Consulting LLC bought a new stake in Illinois Tool Works in the fourth quarter worth about $31,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ITW. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Wolfe Research reiterated an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Weiss Ratings lowered Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Evercore decreased their target price on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $274.00.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $282.91 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $81.39 billion, a PE ratio of 26.27, a P/E/G ratio of 4.86 and a beta of 1.00. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a 50-day moving average price of $262.39 and a two-hundred day moving average price of $267.08.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.09. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.3%. Illinois Tool Works’s payout ratio is presently 59.80%.

Insider Activity

In related news, Director Jennifer F. Scanlon bought 806 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.83% of the stock is currently owned by corporate insiders.

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.