Nykredit A S Makes New Investment in Illinois Tool Works Inc. $ITW

Key Points

• Nykredit A.S. acquired 69,486 shares of Illinois Tool Works in the second quarter, valued at approximately $18.8 million. Institutional investors collectively own 79.77% of the company.
• Illinois Tool Works reported quarterly EPS of $2.84, beating estimates of $2.80, while revenue rose 6.1% year over year to $4.30 billion. The company raised its quarterly dividend to $1.72 per share, representing a 2.6% yield.
• Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $281.25, despite several firms raising their individual targets.

Nykredit A S acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 69,486 shares of the industrial products company's stock, valued at approximately $18,794,000.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new position in Illinois Tool Works during the second quarter valued at about $6,296,349,000. Geode Capital Management LLC grew its holdings in shares of Illinois Tool Works by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company's stock worth $1,709,734,000 after purchasing an additional 184,301 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Illinois Tool Works by 3.2% during the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company's stock worth $1,141,948,000 after purchasing an additional 142,837 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of 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 valued at $912,562,000 after purchasing an additional 54,519 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 valued at $815,587,000 after purchasing an additional 353,056 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $269.44 on Friday. The stock's fifty day simple moving average is $280.00 and its 200 day simple moving average is $268.81. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The firm has a market cap of $76.74 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 2.88 and a beta of 0.98. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.11 and a quick ratio of 0.81.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.19 billion. During the same period last year, the business earned $2.58 earnings per share. The business's revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, analysts expect that Illinois Tool Works Inc. will post 11.43 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.88 annualized dividend and a yield of 2.6%. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.61. Illinois Tool Works's payout ratio is 58.39%.

Insider Activity

In other Illinois Tool Works news, Director Ernest Santi sold 41,431 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the transaction, the director directly owned 266,288 shares in the company, valued at $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matteo Pigozzo sold 277 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the sale, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial raised their target price on Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Wolfe Research restated an "underperform" rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Citigroup reaffirmed a "neutral" rating on shares of Illinois Tool Works in a report on Monday, July 13th. UBS Group reiterated a "neutral" rating and set a $300.00 target price on shares of Illinois Tool Works in a research report on Wednesday, July 29th. Finally, Robert W. Baird increased their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $281.25.

About Illinois Tool Works

Illinois Tool Works Inc NYSE: ITW is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and related solutions for businesses worldwide. Its products are used across industries including automotive, food service, construction, electronics, welding and general manufacturing.

The company operates through several business segments, including Automotive, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products.

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