Geode Capital Management LLC Has $1.71 Billion Position in Illinois Tool Works Inc. $ITW

Geode Capital Management LLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,944,651 shares of the industrial products company’s stock after purchasing an additional 184,301 shares during the period. Geode Capital Management LLC owned about 2.39% of Illinois Tool Works worth $1,709,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cresta Advisors Ltd. bought a new stake in Illinois Tool Works during the fourth quarter worth $25,000. Lodestone Wealth Management LLC bought a new stake in Illinois Tool Works during the fourth quarter worth $28,000. Beacon Financial Strategies CORP bought a new stake in Illinois Tool Works during the fourth quarter worth $29,000. Ares Financial Consulting LLC bought a new stake in Illinois Tool Works during the fourth quarter worth $31,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Illinois Tool Works during the fourth quarter worth $39,000. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ITW. Truist Financial upped their target price on Illinois Tool Works from $275.00 to $280.00 and gave the stock a “hold” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a research note on Thursday, April 30th. UBS Group reiterated a “neutral” rating and issued a $285.00 price target on shares of Illinois Tool Works in a research note on Wednesday, February 4th. Wells Fargo & Company increased their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Monday, May 4th. Finally, Wolfe Research increased their price target on Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $271.92.

Illinois Tool Works Stock Down 0.4%

Shares of ITW opened at $249.29 on Friday. 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 capitalization of $71.72 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 4.30 and a beta of 1.04. 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 fifty day moving average of $260.22 and a 200-day moving average of $262.39.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. The company 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%.Illinois Tool Works’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.80%.

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.