AIA Group Ltd Has $8.49 Million Stock Position in Illinois Tool Works Inc. $ITW

AIA Group Ltd lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 57.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,630 shares of the industrial products company’s stock after buying an additional 11,954 shares during the period. AIA Group Ltd’s holdings in Illinois Tool Works were worth $8,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its position in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after buying an additional 277 shares in the last quarter. Bison Wealth LLC increased its holdings in shares of Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after buying an additional 81 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Illinois Tool Works by 20.6% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 177 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Illinois Tool Works by 22.0% in the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock worth $26,401,000 after acquiring an additional 19,248 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Illinois Tool Works by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after acquiring an additional 2,890 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings downgraded Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Wolfe Research restated an “underperform” rating and set a $286.00 target price on shares of Illinois Tool Works in a report on Thursday, July 9th. JPMorgan Chase & Co. raised their target price on Illinois Tool Works from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Barclays reduced their price target on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. Finally, Evercore decreased their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $274.00.

Insider Activity

In other news, Director Jennifer F. Scanlon bought 806 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the transaction, the director owned 1,652 shares in the company, valued at $409,679.48. This represents a 95.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Down 2.4%

NYSE:ITW opened at $276.19 on Friday. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The stock has a 50-day moving average price of $259.88 and a two-hundred day moving average price of $266.03. The stock has a market cap of $79.46 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 4.74 and a beta of 1.00. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company posted $2.38 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, equities analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio is currently 59.80%.

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.