Andra AP fonden Has $25.05 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Andra AP fonden cut its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 24.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,700 shares of the industrial products company's stock after selling 33,200 shares during the quarter. Andra AP fonden's holdings in Illinois Tool Works were worth $25,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ITW. Cresta Advisors Ltd. acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $25,000. Lodestone Wealth Management LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $28,000. Beacon Financial Strategies CORP acquired a new position in Illinois Tool Works during the fourth quarter worth $29,000. Ares Financial Consulting LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $31,000. Finally, Meeder Asset Management Inc. increased its position in Illinois Tool Works by 215.0% during the fourth 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. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the purchase, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.83% of the company's stock.

Illinois Tool Works Stock Up 1.8%

ITW stock opened at $254.58 on Friday. 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 Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a 50-day moving average of $258.24 and a two-hundred day moving average of $262.91. The stock has a market capitalization of $73.24 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 4.30 and a beta of 1.01.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the prior year, the company earned $2.38 earnings per share. The business's quarterly 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, equities research analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 59.80%.

Analysts Set New Price Targets

Several equities analysts have commented on ITW shares. Citigroup increased their target price on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Wolfe Research increased their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the stock an "underperform" rating in a research report on Friday, February 27th. Evercore lowered their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Barclays lowered their target price on shares of Illinois Tool Works from $275.00 to $250.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 1st. Finally, The Goldman Sachs Group reissued a "sell" rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $271.92.

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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