Public Employees Retirement System of Ohio Sells 7,964 Shares of Illinois Tool Works Inc. $ITW

Public Employees Retirement System of Ohio lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,168 shares of the industrial products company’s stock after selling 7,964 shares during the period. Public Employees Retirement System of Ohio’s holdings in Illinois Tool Works were worth $30,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cresta Advisors Ltd. bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $25,000. Motiv8 Investments LLC purchased a new position in Illinois Tool Works in the 4th quarter worth $27,000. Kemnay Advisory Services Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $27,000. Wilkerson Advisory Group LLC lifted its position in Illinois Tool Works by 77.6% in the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 52 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Illinois Tool Works by 215.0% during the 4th quarter. Meeder Asset Management Inc. now owns 126 shares of the industrial products company’s stock valued at $31,000 after buying an additional 86 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 0.5%

Illinois Tool Works stock opened at $280.19 on Friday. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The stock has a fifty day simple moving average of $279.88 and a two-hundred day simple moving average of $271.50. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The firm has a market cap of $79.80 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 4.76 and a beta of 0.99.

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. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the firm posted $2.58 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities analysts predict that Illinois Tool Works Inc. will post 11.45 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.72 per share. This is an increase 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 2.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio is currently 58.39%.

Insiders Place Their Bets

In other news, Director Ernest Scott Santi sold 41,431 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total value of $11,894,425.79. Following the completion of the sale, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. This represents a 13.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jennifer F. Scanlon bought 806 shares of the firm’s 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 completion of the acquisition, the director owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ITW. JPMorgan Chase & Co. boosted their target price 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. UBS Group restated a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a report on Wednesday, July 29th. Robert W. Baird upped their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. Finally, Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $281.25.

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.