Swedbank AB Has $23.39 Million Stake in Illinois Tool Works Inc. $ITW

Key Points

• Swedbank AB increased its stake in Illinois Tool Works by 12.6% in the fourth quarter, adding 10,609 shares to bring its total to 94,964 shares valued at about $23.39 million.
• Illinois Tool Works beat earnings expectations in its latest quarterly report, posting $2.66 EPS versus the $2.57 consensus, while revenue rose 4.6% year over year to $4.02 billion.
• Analysts are cautious overall on ITW, with a consensus rating of “Reduce” and an average price target of $270.46, even as the company continues paying a quarterly dividend that yields about 2.5%.

Swedbank AB raised its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,964 shares of the industrial products company's stock after purchasing an additional 10,609 shares during the quarter. Swedbank AB's holdings in Illinois Tool Works were worth $23,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mayflower Financial Advisors LLC grew its holdings in shares of Illinois Tool Works by 3.8% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 39 shares in the last quarter. Revisor Wealth Management LLC grew its holdings 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 valued at $734,000 after acquiring an additional 39 shares in the last quarter. Concord Asset Management LLC VA grew its holdings in shares of 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 valued at $884,000 after acquiring an additional 39 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Illinois Tool Works by 1.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 3,015 shares of the industrial products company's stock valued at $743,000 after acquiring an additional 40 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in shares of Illinois Tool Works by 22.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 219 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Trading Down 0.4%

Illinois Tool Works stock opened at $254.54 on Friday. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The stock has a market capitalization of $73.33 billion, a P/E ratio of 23.63, a PEG ratio of 4.39 and a beta of 1.04. The stock has a 50-day simple moving average of $268.73 and a 200 day simple moving average of $262.06.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The business 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 earnings per share. Illinois Tool Works's quarterly revenue was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Analysts expect that Illinois Tool Works Inc. will post 11.36 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Tuesday, March 31st were issued a dividend of $1.61 per share. The ex-dividend date was Tuesday, March 31st. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. Illinois Tool Works's dividend payout ratio (DPR) is presently 59.80%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 1st. The Goldman Sachs Group restated a "sell" rating and issued a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Truist Financial raised their price objective on Illinois Tool Works from $275.00 to $280.00 and gave the company a "hold" rating in a report on Wednesday, February 4th. Barclays decreased their price objective on Illinois Tool Works from $275.00 to $250.00 and set an "underweight" rating for the company in a report on Wednesday, April 1st. Finally, Citigroup raised their price objective on Illinois Tool Works from $284.00 to $287.00 and gave the company a "neutral" rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $270.46.

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.

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