Illinois Tool Works Inc. $ITW Shares Purchased by Forsta AP Fonden

Key Points

• Forsta AP Fonden increased its Illinois Tool Works stake by 5.7% in the fourth quarter, ending with 117,080 shares valued at about $28.8 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding about 79.77% of ITW shares. Several large funds, including Vanguard, Geode Capital, and Fisher Asset Management, also added to their positions.
• Illinois Tool Works beat quarterly expectations, reporting $2.66 EPS versus the $2.57 estimate and revenue of $4.02 billion. The company also maintained its quarterly dividend of $1.61 per share, equal to a 2.6% yield.

Forsta AP Fonden increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,080 shares of the industrial products company's stock after acquiring an additional 6,280 shares during the period. Forsta AP Fonden's holdings in Illinois Tool Works were worth $28,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Illinois Tool Works by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company's stock worth $6,622,322,000 after acquiring an additional 189,229 shares during the period. Geode Capital Management LLC grew its holdings in Illinois Tool Works by 2.7% during 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 acquiring an additional 184,301 shares during the period. Capital Research Global Investors grew its holdings in Illinois Tool Works by 3.0% during the third quarter. Capital Research Global Investors now owns 4,493,555 shares of the industrial products company's stock worth $1,171,740,000 after acquiring an additional 131,702 shares during the period. Fisher Asset Management LLC grew its holdings 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 worth $912,562,000 after acquiring an additional 54,519 shares during the period. Finally, Norges Bank purchased a new position in Illinois Tool Works during the fourth quarter worth approximately $808,351,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup increased their price target 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. JPMorgan Chase & Co. lowered their price target on Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company increased their price target on Illinois Tool Works from $245.00 to $255.00 and gave the stock an "underweight" rating in a research report on Monday, May 4th. UBS Group reiterated a "neutral" rating and set a $285.00 price target on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Finally, The Goldman Sachs Group reiterated a "sell" rating and set a $254.00 price target 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 issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $271.92.

Illinois Tool Works Stock Performance

NYSE ITW opened at $247.11 on Friday. The company has a market cap of $71.09 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 4.29 and a beta of 1.04. The stock's 50 day simple moving average is $259.94 and its 200-day simple moving average is $262.28. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. 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 (NYSE:ITW - Get Free Report) last released its earnings results 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 business had revenue of $4.02 billion for 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 business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business 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 anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal 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 given a dividend of $1.61 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works's dividend payout ratio (DPR) is presently 59.80%.

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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