Illinois Tool Works Inc. $ITW Holdings Raised by California Public Employees Retirement System

California Public Employees Retirement System increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,094 shares of the industrial products company’s stock after purchasing an additional 26,984 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Illinois Tool Works worth $124,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ITW. Vanguard Group Inc. raised its holdings in shares of Illinois Tool Works by 1.3% during the second quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after acquiring an additional 335,955 shares during the period. Geode Capital Management LLC grew its position in Illinois Tool Works by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after purchasing an additional 122,990 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Illinois Tool Works by 12.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after purchasing an additional 415,982 shares during the period. Fisher Asset Management LLC boosted its position in shares of Illinois Tool Works by 2.3% in the second quarter. Fisher Asset Management LLC now owns 3,595,146 shares of the industrial products company’s stock worth $888,900,000 after buying an additional 80,527 shares during the period. Finally, Norges Bank purchased a new position in shares of Illinois Tool Works during the second quarter valued at $821,888,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW opened at $249.67 on Monday. The firm has a market cap of $72.43 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 11.12 and a beta of 1.14. The company’s fifty day moving average is $248.65 and its 200-day moving average is $253.27. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the company posted $3.91 earnings per share. Illinois Tool Works’s revenue for the quarter was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 62.46%.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the sale, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ITW. Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $220.00 to $255.00 in a research report on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. Evercore ISI lowered their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a report on Monday, November 17th. Finally, Barclays increased their price objective on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average target price of $261.58.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.