35,840 Shares in Illinois Tool Works Inc. $ITW Acquired by Shelter Mutual Insurance Co

Shelter Mutual Insurance Co purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 35,840 shares of the industrial products company’s stock, valued at approximately $9,694,000. Illinois Tool Works accounts for approximately 2.1% of Shelter Mutual Insurance Co’s investment portfolio, making the stock its 16th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Illinois Tool Works during the second quarter worth approximately $5,017,000. Strs Ohio grew its position in Illinois Tool Works by 20.5% during the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock worth $20,508,000 after buying an additional 14,186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Illinois Tool Works by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock worth $146,433,000 after acquiring an additional 21,481 shares during the period. Pacific Heights Asset Management LLC raised its holdings in Illinois Tool Works by 15.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock valued at $28,324,000 after acquiring an additional 15,000 shares in the last quarter. Finally, MUFG Securities EMEA plc lifted its position in shares of Illinois Tool Works by 113.2% during the 4th quarter. MUFG Securities EMEA plc now owns 10,822 shares of the industrial products company’s stock valued at $2,665,000 after acquiring an additional 5,745 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.2%

Shares of Illinois Tool Works stock opened at $282.23 on Friday. The firm’s 50 day moving average is $278.00 and its 200 day moving average is $271.50. The firm has a market capitalization of $80.38 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.78 and a beta of 0.99. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Equities research 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 disclosed 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 is Wednesday, September 30th. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is presently 58.39%.

Insiders Place Their Bets

In other news, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the sale, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ernest Scott Santi sold 41,431 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the completion of the transaction, the director directly owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This represents a 13.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Finally, The Goldman Sachs Group restated a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and an average 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.