Illinois Tool Works Inc. $ITW Stake Raised by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 32.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,359 shares of the industrial products company’s stock after acquiring an additional 7,385 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Illinois Tool Works were worth $7,916,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Capital Investment Advisors LLC increased its stake in Illinois Tool Works by 2.0% in the 3rd quarter. Capital Investment Advisors LLC now owns 13,734 shares of the industrial products company’s stock valued at $3,581,000 after buying an additional 272 shares during the period. Webster Bank N. A. increased its stake in shares of Illinois Tool Works by 3.7% in the third quarter. Webster Bank N. A. now owns 7,588 shares of the industrial products company’s stock worth $1,979,000 after acquiring an additional 273 shares during the last quarter. Sound Financial Strategies Group LLC increased its stake in shares of Illinois Tool Works by 26.0% in the third quarter. Sound Financial Strategies Group LLC now owns 2,775 shares of the industrial products company’s stock worth $724,000 after acquiring an additional 572 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Illinois Tool Works during the third quarter worth $110,000. Finally, Cardinal Capital Management boosted its position in Illinois Tool Works by 0.6% during the third quarter. Cardinal Capital Management now owns 42,968 shares of the industrial products company’s stock valued at $11,273,000 after purchasing an additional 260 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the transaction, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ITW shares. Wells Fargo & Company upped their target price on Illinois Tool Works from $245.00 to $250.00 and gave the stock an “underweight” rating in a research report on Wednesday. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Barclays raised their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Evercore ISI decreased their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research report on Monday, November 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $259.67.

Illinois Tool Works Trading Up 0.5%

Shares of ITW stock opened at $255.08 on Friday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.13. The company has a market cap of $74.00 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 10.52 and a beta of 1.15. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The business’s 50 day moving average is $248.68 and its two-hundred day moving average is $254.41.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the firm earned $3.91 EPS. Illinois Tool Works’s quarterly revenue 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. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

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.