Shelter Mutual Insurance Co Acquires New Stake in Illinois Tool Works Inc. $ITW

Shelter Mutual Insurance Co bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 35,840 shares of the industrial products company’s stock, valued at approximately $9,694,000. Illinois Tool Works accounts for about 2.1% of Shelter Mutual Insurance Co’s investment portfolio, making the stock its 16th biggest position.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Illinois Tool Works in the second quarter valued at about $6,296,349,000. Norges Bank acquired a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $808,351,000. Bank of New York Mellon Corp bought a new stake in Illinois Tool Works in the second quarter valued at approximately $603,166,000. Deutsche Bank AG acquired a new stake in Illinois Tool Works during the 2nd quarter valued at approximately $221,746,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Illinois Tool Works during the 2nd quarter worth approximately $180,734,000. Institutional investors own 79.77% of the company’s stock.

Insider Activity

In other Illinois Tool Works news, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the acquisition, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of the business’s stock in a transaction dated 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 directly owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. UBS Group reaffirmed a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Wolfe Research reissued an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 9th. 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 note on Thursday, July 2nd. 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 report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $281.25.

Illinois Tool Works Trading Down 0.2%

NYSE:ITW opened at $282.23 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $80.38 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.78 and a beta of 0.99. The firm has a fifty day simple moving average of $278.00 and a two-hundred day simple moving average of $271.50. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15.

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 for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. 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 disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend is Wednesday, September 30th. Illinois Tool Works’s payout ratio is 58.39%.

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.