AIA Group Ltd Has $8.49 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Key Points

• AIA Group Ltd increased its Illinois Tool Works stake by 57.8% in the first quarter, buying 11,954 additional shares and bringing its total to 32,630 shares worth about $8.49 million.
• Other institutional investors also continue to hold large positions in ITW, and institutions and hedge funds collectively own 79.77% of the company’s shares.
• Illinois Tool Works reported better-than-expected quarterly earnings of $2.66 per share and revenue of $4.02 billion, while also paying a quarterly dividend of $1.61 per share for a 2.3% yield.

AIA Group Ltd lifted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 57.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,630 shares of the industrial products company's stock after acquiring an additional 11,954 shares during the quarter. AIA Group Ltd's holdings in Illinois Tool Works were worth $8,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Illinois Tool Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company's stock worth $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. State Street Corp grew its stake in shares of Illinois Tool Works by 1.2% in the 4th quarter. State Street Corp now owns 12,596,511 shares of the industrial products company's stock valued at $3,122,535,000 after buying an additional 151,864 shares in the last quarter. Geode Capital Management LLC increased its holdings in Illinois Tool Works by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company's stock worth $1,709,734,000 after buying an additional 184,301 shares during the last quarter. Capital Research Global Investors raised its position in Illinois Tool Works by 3.2% during the fourth quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company's stock valued at $1,141,948,000 after acquiring an additional 142,837 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Illinois Tool Works by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company's stock valued at $912,562,000 after acquiring an additional 54,519 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ITW. Evercore reduced their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Wells Fargo & Company raised their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a report on Monday, May 4th. Barclays reduced their price target on Illinois Tool Works from $275.00 to $250.00 and set an "underweight" rating for the company in a research report on Wednesday, April 1st. Truist Financial upped their price target 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. Finally, Weiss Ratings lowered Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works has an average rating of "Reduce" and a consensus target price of $274.00.

Insider Activity at Illinois Tool Works

In other news, Director Jennifer F. Scanlon acquired 806 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average price 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 $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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.83% of the company's stock.

Illinois Tool Works Stock Performance

ITW opened at $276.19 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The stock's 50 day moving average price is $259.88 and its two-hundred day moving average price is $266.03. The firm has a market capitalization of $79.46 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.09. The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.Illinois Tool Works'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 business earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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