Swedbank AB Lowers Stock Position in Illinois Tool Works Inc. $ITW

Key Points

• Swedbank AB trimmed its stake in Illinois Tool Works by 16.2% in the first quarter, selling 15,381 shares and ending with 79,583 shares valued at about $20.7 million.
• Illinois Tool Works beat first-quarter expectations, reporting EPS of $2.66 versus $2.57 expected and revenue of $4.02 billion, with sales up 4.6% year over year.
• The company announced a quarterly dividend of $1.61 per share, which annualizes to $6.44 per share and yields about 2.4%.

Swedbank AB decreased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 16.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,583 shares of the industrial products company's stock after selling 15,381 shares during the period. Swedbank AB's holdings in Illinois Tool Works were worth $20,715,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ITW. Cresta Advisors Ltd. purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at about $25,000. Motiv8 Investments LLC purchased a new position in Illinois Tool Works during the fourth quarter worth approximately $27,000. Kemnay Advisory Services Inc. acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $27,000. Lodestone Wealth Management LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. Finally, Beacon Financial Strategies CORP acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insiders Place Their Bets

In other news, Director Jennifer F. Scanlon purchased 806 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was 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 approximately $409,679.48. This represents a 95.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.83% of the stock is owned by insiders.

Illinois Tool Works Trading Up 0.1%

Shares of Illinois Tool Works stock opened at $265.26 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. The stock's 50 day simple moving average is $257.98 and its 200-day simple moving average is $265.20. The stock has a market cap of $76.31 billion, a P/E ratio of 24.63, a P/E/G ratio of 4.56 and a beta of 1.00. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15.

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, beating the consensus estimate of $2.57 by $0.09. The firm had revenue of $4.02 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works's payout ratio is 59.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ITW shares. Wolfe Research reissued an "underperform" rating and issued a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Illinois Tool Works from $303.00 to $295.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Citigroup lifted their target price on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Barclays reduced 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 report on Wednesday, April 1st. Finally, Wells Fargo & Company raised 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. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $272.85.

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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