Illinois Tool Works Inc. $ITW Stock Position Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,539 shares of the industrial products company’s stock after buying an additional 3,286 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Illinois Tool Works were worth $15,237,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Cresta Advisors Ltd. acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $25,000. Motiv8 Investments LLC acquired a new stake in Illinois Tool Works during the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. purchased a new position in Illinois Tool Works in the fourth quarter valued at about $27,000. Lodestone Wealth Management LLC acquired a new position in Illinois Tool Works in the 4th quarter worth about $28,000. Finally, Beacon Financial Strategies CORP purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ITW. Truist Financial lifted their price target on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Citigroup reiterated a “neutral” rating on shares of Illinois Tool Works in a research note on Monday. Evercore dropped their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Finally, Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $274.00.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $282.99 on Friday. The business’s 50-day simple moving average is $259.45 and its 200-day simple moving average is $265.96. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The firm has a market cap of $81.42 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 4.66 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company earned $2.38 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, June 30th. Illinois Tool Works’s payout ratio is presently 59.80%.

Insider Activity

In other news, Director Jennifer F. Scanlon acquired 806 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, with a total value of $199,879.94. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.83% of the company’s stock.

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.