BI Asset Management Fondsmaeglerselskab A S Lowers Stock Holdings in Illinois Tool Works Inc. $ITW

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 15.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 80,395 shares of the industrial products company’s stock after selling 14,837 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Illinois Tool Works were worth $20,926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Illinois Tool Works by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after acquiring an additional 189,229 shares during the period. State Street Corp raised its stake in Illinois Tool Works by 1.2% during the 4th quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock valued at $3,122,535,000 after purchasing an additional 151,864 shares during the period. Geode Capital Management LLC raised its stake in Illinois Tool Works by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock valued at $1,709,734,000 after purchasing an additional 184,301 shares during the period. Capital Research Global Investors lifted its holdings in Illinois Tool Works by 3.2% in the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock worth $1,141,948,000 after purchasing an additional 142,837 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Illinois Tool Works by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock worth $912,562,000 after purchasing an additional 54,519 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

NYSE ITW opened at $264.38 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. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The business has a 50 day simple moving average of $258.49 and a two-hundred day simple moving average of $263.43. The stock has a market capitalization of $76.06 billion, a PE ratio of 24.55, a P/E/G ratio of 4.54 and a beta of 1.01.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.09. The business had revenue of $4.02 billion for 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 company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, research analysts predict that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors 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 dividend payout ratio is presently 59.80%.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research analyst reports. Wolfe Research increased their price objective on shares of Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a report on Friday, February 27th. The Goldman Sachs Group reissued a “sell” rating and issued a $254.00 target price on shares of Illinois Tool Works in a report on Thursday, April 30th. Barclays dropped their target price 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. Evercore reduced their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Monday, May 4th. One analyst has 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 company currently has an average rating of “Reduce” and a consensus target price of $271.92.

Insider Buying and Selling

In other Illinois Tool Works news, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares of the company’s stock, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by company insiders.

Illinois Tool Works Company 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.