OMERS ADMINISTRATION Corp Takes Position in Illinois Tool Works Inc. $ITW

OMERS ADMINISTRATION Corp purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, HoldingsChannel reports. The firm purchased 17,055 shares of the industrial products company’s stock, valued at approximately $4,613,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Osmosis Investment Management UK Ltd bought a new position in Illinois Tool Works in the 2nd quarter worth about $350,000. Sanctuary Advisors LLC bought a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $14,028,000. Biondo Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works in the second quarter valued at approximately $11,748,000. Barbara Oil Co. purchased a new stake in shares of Illinois Tool Works in the second quarter valued at approximately $4,057,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Illinois Tool Works in the second quarter worth approximately $37,629,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.6%

Illinois Tool Works stock opened at $283.97 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The firm has a market cap of $80.88 billion, a P/E ratio of 25.75, a P/E/G ratio of 4.77 and a beta of 0.99. The business has a fifty day moving average of $278.43 and a two-hundred day moving average of $271.59. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business 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%.The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, analysts forecast that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given 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 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio is currently 58.39%.

Insider Activity

In related news, Director Jennifer F. Scanlon bought 806 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of Illinois Tool Works stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the sale, the director owned 266,288 shares of the company’s stock, valued at $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of several research reports. UBS Group restated a “neutral” rating and set a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Evercore dropped their price target on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Robert W. Baird lifted their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus price target of $281.25.

Illinois Tool Works Company 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.