Canada Pension Plan Investment Board Makes New Investment in Illinois Tool Works Inc. $ITW

Canada Pension Plan Investment Board bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, HoldingsChannel reports. The fund bought 88,701 shares of the industrial products company’s stock, valued at approximately $23,991,000.

Several other large investors have also recently added to or reduced their stakes in ITW. Brighton Jones LLC lifted its position in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares during the period. Bison Wealth LLC increased its position in Illinois Tool Works by 2.3% during the 4th 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 raised its stake in shares of Illinois Tool Works by 20.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock worth $257,000 after buying an additional 177 shares in the last quarter. Sei Investments Co. raised its stake 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 worth $26,401,000 after buying an additional 19,248 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Illinois Tool Works by 2.2% in 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 buying an additional 2,890 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ITW. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. 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. Truist Financial upped their price target 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, JPMorgan Chase & Co. raised their price objective on shares of 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 analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Stock Performance

NYSE ITW opened at $280.19 on Friday. The business has a 50 day moving average price of $279.88 and a 200 day moving average price of $271.50. The company has a market capitalization of $79.80 billion, a P/E ratio of 25.40, a PEG ratio of 4.76 and a beta of 0.99. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. 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 (NYSE:ITW) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.Illinois Tool Works’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a $1.72 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s payout ratio is presently 58.39%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the sale, the director owned 266,288 shares in the company, valued at $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works 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.