PDT Partners LLC Makes New Investment in Illinois Tool Works Inc. $ITW

PDT Partners LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, HoldingsChannel.com reports. The firm acquired 29,131 shares of the industrial products company’s stock, valued at approximately $7,879,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cresta Advisors Ltd. bought a new position in shares of Illinois Tool Works during the 4th quarter valued at approximately $25,000. Motiv8 Investments LLC bought a new stake in Illinois Tool Works in the fourth quarter worth $27,000. Kemnay Advisory Services Inc. purchased a new position in Illinois Tool Works during the fourth quarter worth $27,000. Ares Financial Consulting LLC bought a new position in Illinois Tool Works during the fourth quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC increased its position in Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of Illinois Tool Works stock in a transaction that occurred 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 completion of the transaction, the director directly owned 266,288 shares in the company, valued at approximately $76,448,621.92. The trade was 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.

Illinois Tool Works Stock Down 0.8%

Shares of NYSE ITW opened at $281.78 on Wednesday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The stock’s fifty day simple moving average is $278.75 and its two-hundred day simple moving average is $271.54. The stock has a market capitalization of $80.25 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. 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 released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates 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 for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, analysts expect that Illinois Tool Works Inc. will post 11.45 EPS 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. Shareholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This is a boost 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%. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 58.39%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ITW shares. Weiss Ratings upgraded shares of Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. Evercore decreased their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. 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 report on Wednesday, July 29th. Finally, Robert W. Baird upped their target price on Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average 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.