Danske Bank A S acquired a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 157,959 shares of the industrial products company's stock, valued at approximately $42,723,000. Danske Bank A S owned approximately 0.05% of Illinois Tool Works at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Cresta Advisors Ltd. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth $25,000. Motiv8 Investments LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new stake in Illinois Tool Works in the 4th quarter worth about $27,000. Ares Financial Consulting LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC lifted its stake in Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 52 shares during the period. Institutional investors own 79.77% of the company's stock.
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 purchased at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, the director directly 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. 0.83% of the stock is owned by insiders.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a "hold" rating in a report on Thursday, July 2nd. Evercore cut their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Illinois Tool Works from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. UBS Group reaffirmed a "neutral" rating and issued a $300.00 price objective on shares of Illinois Tool Works in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on Illinois Tool Works from $310.00 to $350.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $281.25.
Check Out Our Latest Report on Illinois Tool Works
Illinois Tool Works Price Performance
NYSE ITW opened at $284.18 on Thursday. The business's fifty day moving average is $276.94 and its 200 day moving average is $271.27. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.81 and a current ratio of 1.11. The company has a market capitalization of $80.93 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 4.81 and a beta of 0.99.
Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the company earned $2.58 earnings per share. The business'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. Sell-side analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current year.
Illinois Tool Works Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.61. Illinois Tool Works's dividend payout ratio (DPR) is 58.39%.
Illinois Tool Works Profile
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Illinois Tool Works, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Illinois Tool Works wasn't on the list.
While Illinois Tool Works currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
