Illinois Tool Works Inc. $ITW Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System trimmed its Illinois Tool Works stake by 1.5% in the first quarter, selling 7,983 shares and leaving it with 514,003 shares valued at about $133.8 million.
• Illinois Tool Works posted better-than-expected quarterly results, with EPS of $2.66 versus the $2.57 consensus and revenue of $4.02 billion, up 4.6% year over year.
• The company also paid a quarterly dividend of $1.61 per share and currently has a consensus analyst rating of “Reduce”, with an average price target of $274.

California Public Employees Retirement System lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 514,003 shares of the industrial products company's stock after selling 7,983 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Illinois Tool Works worth $133,790,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Meridian Wealth Management LLC increased its stake in Illinois Tool Works by 1.3% during the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company's stock worth $694,000 after acquiring an additional 37 shares during the last quarter. Winnow Wealth LLC lifted its stake in shares of Illinois Tool Works by 1.0% in the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company's stock valued at $941,000 after purchasing an additional 37 shares during the last quarter. Crown Wealth Group LLC grew its holdings in shares of Illinois Tool Works by 4.0% during the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company's stock worth $248,000 after purchasing an additional 37 shares during the period. Mayflower Financial Advisors LLC increased its position in shares of Illinois Tool Works by 3.8% during the 4th quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company's stock worth $262,000 after purchasing an additional 39 shares during the last quarter. Finally, Revisor Wealth Management LLC increased its position in shares of Illinois Tool Works by 1.4% during the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company's stock worth $734,000 after purchasing an additional 39 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the acquisition, the director directly owned 1,652 shares in the company, valued at $409,679.48. This represents a 95.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $276.19 on Friday. The business has a 50-day moving average of $259.88 and a 200 day moving average of $266.03. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The stock has a market capitalization of $79.46 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.57 by $0.09. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works's dividend payout ratio is presently 59.80%.

Analyst Ratings Changes

A number of research firms have commented on ITW. Citigroup reaffirmed a "neutral" rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Weiss Ratings downgraded shares of Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Wolfe Research restated an "underperform" rating and issued a $286.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 9th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, Evercore dropped their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $274.00.

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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