North Dakota State Investment Board Buys Shares of 10,075 Illinois Tool Works Inc. $ITW

Key Points

• North Dakota State Investment Board initiated a new position in Illinois Tool Works, buying 10,075 shares valued at about $2.48 million in the fourth quarter.
• Institutional ownership remains high, with several other funds adding to ITW and 79.77% of the company’s stock held by institutions overall.
• Illinois Tool Works reported better-than-expected quarterly earnings of $2.66 per share and revenue of $4.02 billion, and it also declared a quarterly dividend of $1.61 per share payable July 10.

North Dakota State Investment Board bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,075 shares of the industrial products company's stock, valued at approximately $2,481,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ITW. Brighton Jones LLC boosted its position in Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after acquiring an additional 277 shares in the last quarter. Bison Wealth LLC boosted its position in shares of Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock worth $901,000 after purchasing an additional 81 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock worth $257,000 after purchasing an additional 177 shares in the last quarter. Sei Investments Co. boosted its position in shares of Illinois Tool Works by 22.0% in the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company's stock worth $26,401,000 after purchasing an additional 19,248 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Illinois Tool Works by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company's stock worth $33,845,000 after purchasing an additional 2,890 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ITW. UBS Group reissued a "neutral" rating and issued a $285.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Truist Financial raised their price objective on Illinois Tool Works from $275.00 to $280.00 and gave the stock a "hold" rating in a research report on Wednesday, February 4th. Citigroup raised their price objective on Illinois Tool Works from $284.00 to $287.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Wells Fargo & Company raised their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the stock an "underweight" rating in a research report on Monday, May 4th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Illinois Tool Works in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Illinois Tool Works currently has a consensus rating of "Reduce" and a consensus target price of $271.92.

Illinois Tool Works Stock Performance

Shares of ITW opened at $249.15 on Tuesday. The stock has a 50-day moving average of $263.51 and a two-hundred day moving average of $262.03. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The stock has a market cap of $71.68 billion, a P/E ratio of 23.13, a P/E/G ratio of 4.26 and a beta of 1.04.

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 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. The firm's revenue was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, research analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.61 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works's dividend payout ratio (DPR) is presently 59.80%.

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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