Caisse de depot et placement du Quebec Invests $103.70 Million in Illinois Tool Works Inc. $ITW

Key Points

• Caisse de dépôt et placement du Québec acquired 383,412 shares of Illinois Tool Works in the second quarter, valued at approximately $103.7 million and representing about 0.13% of the company.
• Analysts maintain a cautious outlook, with a consensus rating of “Reduce” and an average price target of $281.25, despite recent earnings and revenue exceeding expectations.
• Illinois Tool Works raised its quarterly dividend from $1.61 to $1.72 per share, equivalent to an annualized dividend of $6.88 and a 2.4% yield.

Caisse de depot et placement du Quebec acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 383,412 shares of the industrial products company's stock, valued at approximately $103,701,000. Caisse de depot et placement du Quebec owned about 0.13% of Illinois Tool Works at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cresta Advisors Ltd. purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $25,000. Motiv8 Investments LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $27,000. Kemnay Advisory Services Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $27,000. Abound Wealth Management raised its stake in shares of Illinois Tool Works by 178.6% during the 2nd quarter. Abound Wealth Management now owns 117 shares of the industrial products company's stock worth $32,000 after acquiring an additional 75 shares in the last quarter. Finally, Wilkerson Advisory Group LLC lifted its position in Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ITW shares. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. Wells Fargo & Company increased their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. UBS Group restated a "neutral" rating and set a $300.00 target price on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Finally, Wolfe Research reaffirmed an "underperform" rating and set a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $281.25.

Insider Activity

In other news, Director Jennifer F. Scanlon bought 806 shares of the company's stock in a transaction that occurred 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 transaction, the director directly 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the transaction, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents 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 Trading Up 1.4%

NYSE ITW opened at $285.54 on Thursday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The company has a fifty day simple moving average of $279.22 and a two-hundred day simple moving average of $271.52. 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 cap of $81.32 billion, a P/E ratio of 25.89, a P/E/G ratio of 4.76 and a beta of 0.99.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced 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 net margin of 19.39% and a return on equity of 101.72%. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same period in the previous year, the company earned $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. On average, analysts forecast that Illinois Tool Works Inc. will post 11.45 earnings per share for the current 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 paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.61. Illinois Tool Works's dividend payout ratio (DPR) is presently 58.39%.

Illinois Tool Works 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.

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