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

California Public Employees Retirement System lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the first quarter, Holdings Channel.com reports. 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’s holdings in Illinois Tool Works were worth $133,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ITW. Cresta Advisors Ltd. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $25,000. Motiv8 Investments LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $27,000. Kemnay Advisory Services Inc. purchased a new position in Illinois Tool Works in the fourth quarter worth approximately $27,000. Lodestone Wealth Management LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $28,000. Finally, Beacon Financial Strategies CORP acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ITW. The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. Truist Financial increased their target price on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Barclays cut their price target on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Weiss Ratings cut Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $274.00.

Insider Activity at Illinois Tool Works

In other 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 acquisition, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Down 2.4%

ITW stock opened at $276.19 on Friday. The stock has a market cap of $79.46 billion, a P/E ratio of 25.64, a PEG ratio of 4.74 and a beta of 1.00. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company’s 50 day moving average is $259.88 and its two-hundred day moving average is $266.03.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.09. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Research analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio is currently 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.