PensionDanmark Pensionsforsikringsaktieselskab Has $18.34 Million Stake in Illinois Tool Works Inc. $ITW

Key Points

• PensionDanmark increased its Illinois Tool Works stake by 10.8% in the second quarter, acquiring 6,604 shares for a total holding of 67,824 shares valued at approximately $18.34 million. Institutional investors and hedge funds own 79.77% of ITW.
• Analysts remain cautious: ITW has a consensus “Reduce” rating and a $281.25 price target, despite JPMorgan raising its target to $350 and several firms increasing their targets.
• Illinois Tool Works reported quarterly EPS of $2.84, beating estimates by $0.04, while revenue reached $4.30 billion and rose 6.1% year over year. Shares opened at $296.63, near the company’s 52-week high of $303.15.

PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 10.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,824 shares of the industrial products company's stock after acquiring an additional 6,604 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Illinois Tool Works were worth $18,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC raised its position in Illinois Tool Works by 1.3% in the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company's stock worth $694,000 after acquiring an additional 37 shares during the period. Winnow Wealth LLC grew its position in shares of Illinois Tool Works by 1.0% during the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company's stock valued at $941,000 after acquiring an additional 37 shares during the period. Crown Wealth Group LLC increased its stake in shares of Illinois Tool Works by 4.0% in the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company's stock worth $248,000 after purchasing an additional 37 shares in the last quarter. Revisor Wealth Management LLC increased its stake in shares of Illinois Tool Works by 1.4% in the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company's stock worth $734,000 after purchasing an additional 39 shares in the last quarter. Finally, Concord Asset Management LLC VA raised its holdings in Illinois Tool Works by 1.1% in the 4th quarter. Concord Asset Management LLC VA now owns 3,591 shares of the industrial products company's stock worth $884,000 after purchasing an additional 39 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jennifer F. Scanlon acquired 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director directly owned 1,652 shares in the company, valued at $409,679.48. The trade was a 95.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ITW has been the subject of several recent research reports. Citigroup reissued a "neutral" rating on shares of Illinois Tool Works in a report on Monday, July 13th. JPMorgan Chase & Co. lifted their price objective on Illinois Tool Works from $310.00 to $350.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. UBS Group reiterated a "neutral" rating and set a $300.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, July 29th. Robert W. Baird increased their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Finally, Truist Financial raised their target price on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $281.25.

Illinois Tool Works Stock Up 0.7%

Shares of ITW stock opened at $296.63 on Friday. The company's fifty day simple moving average is $270.76 and its two-hundred day simple moving average is $269.49. 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 cap of $85.34 billion, a P/E ratio of 26.89, a PEG ratio of 4.97 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26.

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 for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Analysts predict that Illinois Tool Works Inc. will post 11.46 EPS for the current fiscal year.

Illinois Tool Works 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source