PDT Partners LLC Purchases Shares of 29,131 Illinois Tool Works Inc. $ITW

PDT Partners LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,131 shares of the industrial products company’s stock, valued at approximately $7,879,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG purchased a new position in Illinois Tool Works during the second quarter valued at $5,017,000. Sanctuary Advisors LLC bought a new stake in Illinois Tool Works during the second quarter valued at about $14,028,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Illinois Tool Works by 3.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,906 shares of the industrial products company’s stock worth $146,433,000 after buying an additional 21,481 shares in the last quarter. Pacific Heights Asset Management LLC raised its stake in shares of Illinois Tool Works by 15.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 115,000 shares of the industrial products company’s stock worth $28,324,000 after buying an additional 15,000 shares during the period. Finally, Strs Ohio lifted its position in shares of Illinois Tool Works by 20.5% during the 4th quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock valued at $20,508,000 after buying an additional 14,186 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ernest Scott Santi sold 41,431 shares of the business’s stock in a transaction 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 sale, the director owned 266,288 shares in the company, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Down 0.8%

Shares of ITW stock opened at $281.78 on Wednesday. The stock has a market cap of $80.25 billion, a P/E ratio of 25.55, a PEG ratio of 4.80 and a beta of 0.99. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The company’s fifty day simple moving average is $278.75 and its two-hundred day simple moving average is $271.54.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter last year, the business posted $2.58 earnings per share. 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. 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 declared 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. The ex-dividend date is Wednesday, September 30th. This represents a $6.88 annualized dividend and a yield of 2.4%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. Illinois Tool Works’s dividend payout ratio (DPR) is 58.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ITW shares. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a 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. Robert W. Baird upped their price target 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. UBS Group reissued a “neutral” rating and issued a $300.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, July 29th. 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 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. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price 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.