Canada Pension Plan Investment Board Has $15.07 Million Holdings in Illinois Tool Works Inc. $ITW

Key Points

• The Canada Pension Plan Investment Board increased its stake in Illinois Tool Works Inc. by 32.3%, acquiring an additional 14,816 shares, bringing its total holdings to 60,746 shares valued at approximately $15 million.
• Illinois Tool Works recently announced a quarterly dividend increase from $1.50 to $1.61 per share, representing an annualized yield of 2.4% and a dividend payout ratio of 52.59%.
• Analysts have set varying price targets for Illinois Tool Works, with a consensus average target of $260.67, suggesting mixed sentiments on the stock's performance.

Canada Pension Plan Investment Board increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 32.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 60,746 shares of the industrial products company's stock after purchasing an additional 14,816 shares during the period. Canada Pension Plan Investment Board's holdings in Illinois Tool Works were worth $15,066,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Trust Co of the South increased its holdings in shares of Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock worth $367,000 after buying an additional 42 shares in the last quarter. Clearstead Trust LLC increased its holdings in shares of Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company's stock worth $1,180,000 after buying an additional 43 shares in the last quarter. Northern Financial Advisors Inc increased its holdings in shares of Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company's stock worth $582,000 after buying an additional 44 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in shares of Illinois Tool Works by 0.8% during the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock worth $1,504,000 after buying an additional 45 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of Illinois Tool Works by 3.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock worth $355,000 after buying an additional 46 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

ITW has been the subject of several research analyst reports. Citigroup upped their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Barclays boosted their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Truist Financial cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective on the stock. in a research note on Thursday, July 31st. Finally, UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $260.67.

Illinois Tool Works Trading Up 0.1%

ITW traded up $0.38 during trading on Friday, reaching $266.05. 583,082 shares of the stock traded hands, compared to its average volume of 1,074,615. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $77.55 billion, a PE ratio of 23.32, a P/E/G ratio of 5.64 and a beta of 1.10. The stock's 50-day moving average is $259.41 and its 200 day moving average is $250.84. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business earned $2.54 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.59%.

About Illinois Tool Works

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.