Illinois Tool Works Inc. $ITW Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 188,459 shares of the industrial products company’s stock after selling 4,636 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of Illinois Tool Works worth $49,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co increased its stake in shares of Illinois Tool Works by 0.4% in the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after acquiring an additional 39 shares during the last quarter. Northcape Wealth Management LLC increased its position in Illinois Tool Works by 2.1% during the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 40 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Illinois Tool Works by 4.2% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 988 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 40 shares during the period. TFG Advisers LLC boosted its holdings in Illinois Tool Works by 0.5% in the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 42 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its stake in shares of Illinois Tool Works by 3.0% in the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the business’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 completion of the transaction, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ITW. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $245.00 to $250.00 and gave the company an “underweight” rating in a research report on Wednesday. Evercore ISI decreased their price target on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a report on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Finally, Barclays increased their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $259.67.

Illinois Tool Works Stock Up 0.5%

Shares of NYSE:ITW opened at $255.08 on Monday. The firm has a market capitalization of $74.00 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 10.58 and a beta of 1.15. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $278.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The firm’s 50-day moving average is $248.68 and its two-hundred day moving average is $254.53.

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

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 62.46%.

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.