Danske Bank A S Invests $46.74 Million in Illinois Tool Works Inc. $ITW

Danske Bank A S purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 179,233 shares of the industrial products company’s stock, valued at approximately $46,737,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Corsicana & Co. acquired a new stake in Illinois Tool Works during the 3rd quarter worth $26,000. Vermillion & White Wealth Management Group LLC raised its position in shares of Illinois Tool Works by 103.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock valued at $31,000 after buying an additional 63 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Illinois Tool Works in the second quarter worth about $31,000. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 341.9% in the third quarter. True Wealth Design LLC now owns 137 shares of the industrial products company’s stock worth $36,000 after buying an additional 106 shares in the last quarter. Finally, MTM Investment Management LLC boosted its position in Illinois Tool Works by 70.5% during the third quarter. MTM Investment Management LLC now owns 162 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $260.86 on Thursday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $303.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.89 and a current ratio of 1.21. The company has a 50 day moving average price of $276.13 and a 200 day moving average price of $260.67. The stock has a market capitalization of $75.18 billion, a P/E ratio of 24.87, a PEG ratio of 14.31 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.69 by $0.03. Illinois Tool Works had a return on equity of 95.16% and a net margin of 19.11%.The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same period last year, the business posted $2.54 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 61.39%.

Insider Activity

In other Illinois Tool Works news, EVP Axel Beck sold 4,223 shares of Illinois Tool Works stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $290.22, for a total value of $1,225,599.06. Following the completion of the transaction, the executive vice president directly owned 5,789 shares of the company’s stock, valued at $1,680,083.58. The trade was a 42.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ernest Scott Santi sold 167,345 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the sale, the director owned 258,766 shares in the company, valued at $75,282,792.38. This trade represents a 39.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group reiterated a “sell” rating and issued a $253.00 price objective on shares of Illinois Tool Works in a report on Tuesday, February 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Wednesday, January 28th. Wells Fargo & Company increased their price target on Illinois Tool Works from $250.00 to $270.00 and gave the company an “underweight” rating in a report on Wednesday, February 4th. Citigroup lifted their price objective on Illinois Tool Works from $271.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Finally, UBS Group restated a “neutral” rating and issued a $285.00 target price on shares of Illinois Tool Works in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $275.69.

About Illinois Tool Works

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.