Canada Pension Plan Investment Board Invests $23.99 Million in Illinois Tool Works Inc. $ITW

Canada Pension Plan Investment Board bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 88,701 shares of the industrial products company’s stock, valued at approximately $23,991,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cresta Advisors Ltd. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth $25,000. Motiv8 Investments LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. acquired a new stake in Illinois Tool Works in the fourth quarter valued at $27,000. Meeder Asset Management Inc. lifted its holdings in Illinois Tool Works by 215.0% during the 4th quarter. Meeder Asset Management Inc. now owns 126 shares of the industrial products company’s stock worth $31,000 after buying an additional 86 shares during the last quarter. Finally, Sfam LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ITW shares. UBS Group reiterated a “neutral” rating and issued a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Truist Financial boosted their target price on Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. increased their target price on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. Finally, Robert W. Baird upped their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $281.25.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $280.19 on Friday. The stock has a market cap of $79.80 billion, a P/E ratio of 25.40, a P/E/G ratio of 4.76 and a beta of 0.99. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The stock has a 50 day moving average of $279.88 and a two-hundred day moving average of $271.50. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same period last year, the firm posted $2.58 earnings per share. The company’s revenue for the quarter 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 forecast that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed 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 is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.39%.

Insider Activity

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction dated Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director owned 1,652 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 41,431 shares of the stock in a transaction dated 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 owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This trade represents a 13.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Company 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.