OMERS ADMINISTRATION Corp acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,055 shares of the industrial products company’s stock, valued at approximately $4,613,000.
Other hedge funds have also recently made changes to their positions in the company. Cresta Advisors Ltd. purchased a new position in Illinois Tool Works in the 4th quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at approximately $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth $27,000. Ares Financial Consulting LLC bought a new position in shares of Illinois Tool Works during the fourth quarter worth $31,000. Finally, Wilkerson Advisory Group LLC boosted its position in shares of Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.
Insiders Place Their Bets
In other news, CAO Matteo C. Pigozzo sold 277 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the sale, the chief accounting officer 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer F. Scanlon purchased 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the purchase, the director owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.83% of the stock is owned by insiders.
Illinois Tool Works Trading Up 0.6%
Illinois Tool Works (NYSE:ITW – Get Free Report) last announced 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 firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Research analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.
Illinois Tool Works Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders 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 positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a yield of 2.4%. Illinois Tool Works’s payout ratio is presently 58.39%.
Analyst Upgrades and Downgrades
Several brokerages have commented on ITW. UBS Group reiterated a “neutral” rating and issued a $300.00 price target on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Wolfe Research reiterated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their price target 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. Weiss Ratings raised Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Robert W. Baird upped their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Two 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 company. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus price target of $281.25.
View Our Latest Research Report on Illinois Tool Works
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.
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