Eurizon Capital SGR S.p.A. Buys New Shares in Illinois Tool Works Inc. $ITW

Key Points

• Eurizon Capital SGR initiated a new position in Illinois Tool Works during the fourth quarter, buying 164,465 shares worth about $40.5 million.
• Illinois Tool Works reported strong quarterly results, with EPS of $2.66 beating estimates and revenue of $4.02 billion slightly above expectations; revenue also rose 4.6% year over year.
• The company declared a quarterly dividend of $1.61 per share, implying an annualized yield of 2.6%, while analysts currently hold a consensus rating of “Reduce” with an average price target of $271.92.

Eurizon Capital SGR S.p.A. bought a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 164,465 shares of the industrial products company's stock, valued at approximately $40,513,000. Eurizon Capital SGR S.p.A. owned 0.06% of Illinois Tool Works as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after purchasing an additional 277 shares during the period. Bison Wealth LLC raised its holdings in shares of Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock valued at $901,000 after purchasing an additional 81 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Illinois Tool Works by 20.6% during the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock valued at $257,000 after purchasing an additional 177 shares during the period. Sei Investments Co. raised its holdings in shares of Illinois Tool Works by 22.0% during the second quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company's stock valued at $26,401,000 after purchasing an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Illinois Tool Works by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company's stock valued at $33,845,000 after purchasing an additional 2,890 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Trading Down 1.0%

NYSE:ITW opened at $247.11 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. The firm has a 50-day moving average of $259.94 and a 200-day moving average of $262.28. The company has a market cap of $71.09 billion, a PE ratio of 22.94, a PEG ratio of 4.25 and a beta of 1.04. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

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

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works's dividend payout ratio is presently 59.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ITW. Truist Financial upped their price objective on shares of Illinois Tool Works from $275.00 to $280.00 and gave the company a "hold" rating in a report on Wednesday, February 4th. Weiss Ratings lowered shares of Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. Citigroup upped their price objective on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a "neutral" rating in a report on Monday, May 4th. 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 report on Monday, May 4th. 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. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus 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.

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.