Police & Firemen s Retirement System of New Jersey Raises Holdings in Illinois Tool Works Inc. $ITW

Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 44,436 shares of the industrial products company’s stock after buying an additional 1,884 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Illinois Tool Works were worth $10,987,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $25,000. SOA Wealth Advisors LLC. lifted its position in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works during the first quarter valued at about $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on ITW shares. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft raised their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group set a $258.00 price objective on Illinois Tool Works in a report on Monday, October 27th. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Finally, Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research 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 issued a Sell rating to the company. According to MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and a consensus target price of $262.00.

Illinois Tool Works Trading Down 0.1%

ITW opened at $245.28 on Friday. The business has a fifty day moving average price of $253.87 and a 200 day moving average price of $252.95. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The stock has a market capitalization of $71.16 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 4.10 and a beta of 1.11.

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

Illinois Tool Works Dividend Announcement

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

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the transaction, the director owned 39,249 shares in the company, valued at $9,625,817.25. The trade was a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Profile

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.