Public Employees Retirement System of Ohio Lowers Stock Position in Illinois Tool Works Inc. $ITW

Public Employees Retirement System of Ohio cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 112,168 shares of the industrial products company’s stock after selling 7,964 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Illinois Tool Works were worth $30,338,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ITW. MASTERINVEST Kapitalanlage GmbH lifted its position in shares of Illinois Tool Works by 14.2% during the 2nd quarter. MASTERINVEST Kapitalanlage GmbH now owns 9,043 shares of the industrial products company’s stock worth $2,446,000 after buying an additional 1,125 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Illinois Tool Works in the second quarter valued at approximately $504,000. Transamerica Financial Advisors LLC increased its position in shares of Illinois Tool Works by 9.0% during the second quarter. Transamerica Financial Advisors LLC now owns 4,288 shares of the industrial products company’s stock valued at $1,161,000 after acquiring an additional 355 shares during the last quarter. Corient Private Wealth LP lifted its holdings in Illinois Tool Works by 112.6% during the second quarter. Corient Private Wealth LP now owns 524,153 shares of the industrial products company’s stock worth $141,768,000 after acquiring an additional 277,594 shares during the period. Finally, Port Capital LLC purchased a new position in Illinois Tool Works in the second quarter worth $434,000. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Illinois Tool Works news, Director Ernest Scott Santi sold 41,431 shares of the 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 in the company, valued at $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the transaction, the chief accounting officer owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ITW. UBS Group reaffirmed a “neutral” rating and set a $300.00 target price on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Monday, May 4th. Wolfe Research restated an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 9th. Evercore lowered their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Finally, Truist Financial boosted their target price 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. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $281.25.

Illinois Tool Works Stock Down 0.5%

ITW stock opened at $280.19 on Friday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. The company has a market capitalization 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 Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The stock has a fifty day moving average of $279.88 and a 200-day moving average of $271.50.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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 analysts’ expectations of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio is currently 58.39%.

Illinois Tool Works 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.