ING Groep NV Acquires Shares of 87,892 Illinois Tool Works Inc. $ITW

Key Points

• ING Groep NV disclosed a new fourth-quarter stake in Illinois Tool Works, buying 87,892 shares valued at about $21.65 million.
• Other institutional investors also increased their ITW holdings, and hedge funds and other institutions now own 79.77% of the company’s stock.
• Illinois Tool Works reported solid quarterly results with EPS of $2.66 beating estimates, while the company also declared a $1.61 quarterly dividend payable July 10, yielding about 2.6%.

ING Groep NV acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 87,892 shares of the industrial products company's stock, valued at approximately $21,648,000.

Several other hedge funds have also made changes to their positions in ITW. Brighton Jones LLC grew its stake in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after buying an additional 277 shares during the period. Bison Wealth LLC grew its stake in shares of Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock valued at $901,000 after buying an additional 81 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock valued at $257,000 after buying an additional 177 shares during the period. Sei Investments Co. grew its stake in shares of Illinois Tool Works by 22.0% in the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company's stock valued at $26,401,000 after buying an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Illinois Tool Works by 2.2% in the 2nd 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 buying an additional 2,890 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a research note on Monday, May 4th. Barclays dropped their price target on shares of Illinois Tool Works from $275.00 to $250.00 and set an "underweight" rating for the company in a research note on Wednesday, April 1st. Weiss Ratings cut shares of Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Wolfe Research increased their price objective 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. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $271.92.

Insider Buying and Selling

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was bought at an average price of $247.99 per share, with a total value 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 represents a 95.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $252.48 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The stock has a market capitalization of $72.64 billion, a PE ratio of 23.44, a P/E/G ratio of 4.34 and a beta of 1.01. The firm has a 50 day moving average of $258.67 and a two-hundred day moving average of $262.61.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating the consensus estimate 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 quarter last year, the company posted $2.38 EPS. The firm's 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. On average, research analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is currently 59.80%.

About Illinois Tool Works

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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