Illinois Tool Works Inc. $ITW Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,685 shares of the industrial products company’s stock after acquiring an additional 1,400 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.05% of Illinois Tool Works worth $38,692,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Bank & Trust Co lifted its stake in Illinois Tool Works by 0.4% in the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after acquiring an additional 39 shares in the last quarter. TFG Advisers LLC grew its stake in Illinois Tool Works by 0.5% during the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 42 shares in the last quarter. Clearstead Trust LLC increased its holdings in shares of Illinois Tool Works by 0.9% in the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after purchasing an additional 43 shares during the period. Northern Financial Advisors Inc lifted its position in shares of Illinois Tool Works by 1.9% in the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 44 shares in the last quarter. Finally, Woodmont Investment Counsel LLC boosted its holdings in shares of Illinois Tool Works by 2.5% during the second quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Down 0.5%

Shares of NYSE:ITW opened at $258.76 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $75.43 billion, a PE ratio of 22.68, a P/E/G ratio of 5.75 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm has a fifty day moving average price of $261.41 and a 200 day moving average price of $251.05.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.44%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Truist Financial cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price objective for the company. in a research report on Thursday, July 31st. Finally, Stifel Nicolaus boosted their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $261.58.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.