Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 3,400 Shares of Illinois Tool Works Inc. $ITW

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.6% during the third quarter, Holdings Channel.com reports. The fund owned 64,452 shares of the industrial products company’s stock after acquiring an additional 3,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Illinois Tool Works were worth $16,807,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITW. Brendel Financial Advisors LLC lifted its position in shares of Illinois Tool Works by 1,328.6% in the 3rd quarter. Brendel Financial Advisors LLC now owns 13,929 shares of the industrial products company’s stock worth $3,632,000 after purchasing an additional 12,954 shares during the period. Davis Capital Management bought a new position in Illinois Tool Works in the third quarter worth about $1,162,000. Illinois Municipal Retirement Fund lifted its holdings in Illinois Tool Works by 39.5% in the second quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock worth $16,674,000 after buying an additional 19,102 shares during the period. Level Four Advisory Services LLC boosted its position in Illinois Tool Works by 16.3% during the 2nd quarter. Level Four Advisory Services LLC now owns 11,680 shares of the industrial products company’s stock valued at $2,888,000 after acquiring an additional 1,638 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Illinois Tool Works by 1.3% during the 2nd quarter. Swiss National Bank now owns 844,000 shares of the industrial products company’s stock worth $208,679,000 after acquiring an additional 11,200 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $263.56 on Friday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $278.13. The firm’s 50-day moving average is $250.14 and its 200 day moving average is $254.83. The stock has a market cap of $76.46 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 14.08 and a beta of 1.15. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the company earned $3.91 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were given a $1.61 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio is 62.46%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research report on Monday, October 27th. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $245.00 to $250.00 and gave the company an “underweight” rating in a report on Wednesday, January 7th. Barclays increased their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $220.00 to $255.00 in a research note on Tuesday, November 18th. Finally, Truist Financial decreased their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and a consensus target price of $261.08.

Insider Buying and Selling

In other news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the transaction, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.

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.