Caisse de depot et placement du Quebec Makes New $103.70 Million Investment in Illinois Tool Works Inc. $ITW

Caisse de depot et placement du Quebec acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 383,412 shares of the industrial products company’s stock, valued at approximately $103,701,000.

Other large investors have also recently made changes to their positions in the company. Odyssean LLC purchased a new stake in Illinois Tool Works during the second quarter worth $875,000. Man Group plc acquired a new stake in Illinois Tool Works during the second quarter valued at $14,293,000. Western Wealth Management LLC purchased a new position in Illinois Tool Works in the second quarter valued at $309,000. First Bancorp Inc ME acquired a new position in shares of Illinois Tool Works in the second quarter worth about $73,000. Finally, Roberts Glore & Co. Inc. IL purchased a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $3,290,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ernest Scott Santi sold 41,431 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the sale, the director directly owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ITW. Weiss Ratings upgraded Illinois Tool Works from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. increased their price target on Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Truist Financial boosted their price objective on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Finally, Wolfe Research reiterated an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $281.25.

Illinois Tool Works Trading Up 1.4%

Shares of Illinois Tool Works stock opened at $285.54 on Thursday. 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 Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The firm has a market capitalization of $81.32 billion, a PE ratio of 25.89, a P/E/G ratio of 4.76 and a beta of 0.99. The firm’s 50-day moving average price is $279.22 and its 200 day moving average price is $271.52.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $4.30 billion during 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 business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 11.45 EPS 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. Shareholders of record on Wednesday, September 30th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. 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 payout ratio is 58.39%.

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.