California State Teachers Retirement System Sells 56,691 Shares of Illinois Tool Works Inc. $ITW

California State Teachers Retirement System cut its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 12.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 404,963 shares of the industrial products company's stock after selling 56,691 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Illinois Tool Works worth $109,530,343 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of Illinois Tool Works in the 2nd quarter worth about $6,296,349,000. Geode Capital Management LLC raised its position in shares of Illinois Tool Works by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company's stock valued at $1,709,734,000 after buying an additional 184,301 shares during the period. Capital Research Global Investors increased its stake in shares of Illinois Tool Works by 3.2% during the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company's stock valued at $1,141,948,000 after acquiring an additional 142,837 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Illinois Tool Works by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company's stock valued at $912,562,000 after purchasing an additional 54,519 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Illinois Tool Works by 11.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company's stock valued at $815,587,000 after acquiring an additional 353,056 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

In other news, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the sale, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Santi sold 41,431 shares of Illinois Tool Works stock in a transaction on 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 in the company, valued at $76,448,621.92. This trade represents a 13.46% decrease in their position. The SEC filing for this sale provides additional information. 0.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research reports. Citigroup reiterated a "neutral" rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Weiss Ratings upgraded Illinois Tool Works from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. UBS Group reiterated a "neutral" rating and set a $300.00 target price on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Robert W. Baird raised their price target on Illinois Tool Works from $278.00 to $297.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on Illinois Tool Works from $310.00 to $350.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Two research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $281.25.

Illinois Tool Works Stock Performance

ITW traded down $0.21 on Tuesday, hitting $268.83. 420,803 shares of the stock traded hands, compared to its average volume of 1,371,943. 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 firm has a market capitalization of $76.56 billion, a PE ratio of 24.37, a P/E/G ratio of 3.64 and a beta of 0.98. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The business has a fifty day moving average price of $279.96 and a two-hundred day moving average price of $269.28.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. The business's 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, research analysts predict that Illinois Tool Works Inc. will post 11.43 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business 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 $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, September 30th. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.61. Illinois Tool Works's dividend payout ratio is presently 62.38%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc NYSE: ITW is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.

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