Brandywine Global Investment Management LLC Makes New $30.97 Million Investment in Illinois Tool Works Inc. $ITW

Key Points

• Brandywine Global Investment Management opened a new position in Illinois Tool Works during the fourth quarter, buying 125,737 shares valued at about $30.97 million.
• Several other major institutional investors also increased or initiated stakes in ITW, and institutions and hedge funds now own 79.77% of the company.
• Illinois Tool Works reported better-than-expected quarterly earnings of $2.66 per share and announced a quarterly dividend of $1.61 per share, yielding about 2.5%.

Brandywine Global Investment Management LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 125,737 shares of the industrial products company's stock, valued at approximately $30,969,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ITW. Norges Bank acquired a new position in Illinois Tool Works in the fourth quarter worth $808,351,000. Northwestern Mutual Wealth Management Co. boosted its stake in Illinois Tool Works by 1,517.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company's stock worth $96,062,000 after purchasing an additional 365,915 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Illinois Tool Works by 11.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company's stock worth $815,587,000 after purchasing an additional 353,056 shares in the last quarter. Caisse de depot et placement du Quebec raised its position in shares of Illinois Tool Works by 293.0% during the third quarter. Caisse de depot et placement du Quebec now owns 424,547 shares of the industrial products company's stock worth $110,705,000 after acquiring an additional 316,512 shares during the last quarter. Finally, Pinebridge Investments LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $76,764,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Buying and Selling

In related news, Director Jennifer F. Scanlon acquired 806 shares of the company's 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 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.83% of the company's stock.

Illinois Tool Works Trading Down 0.0%

NYSE ITW opened at $252.60 on Tuesday. The stock has a 50-day simple moving average of $258.50 and a 200 day simple moving average of $262.68. The company has a market capitalization of $72.67 billion, a PE ratio of 23.45, a P/E/G ratio of 4.34 and a beta of 1.01. 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 12 month low of $238.82 and a 12 month high of $303.15.

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

Illinois Tool Works Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Barclays dropped their target price 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. The Goldman Sachs Group restated a "sell" rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. Wolfe Research boosted their target price on Illinois Tool Works from $276.00 to $295.00 and gave the stock an "underperform" rating in a research report on Friday, February 27th. Finally, Citigroup boosted their target price 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. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $271.92.

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.

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