Forsta AP Fonden Acquires 9,300 Shares of Illinois Tool Works Inc. $ITW

Forsta AP Fonden raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.0% in the 2nd quarter, Holdings Channel reports. The firm owned 102,000 shares of the industrial products company’s stock after purchasing an additional 9,300 shares during the quarter. Forsta AP Fonden’s holdings in Illinois Tool Works were worth $25,220,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ITW. OneAscent Financial Services LLC lifted its stake in shares of Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after acquiring an additional 341 shares during the period. Modern Wealth Management LLC raised its holdings in Illinois Tool Works by 8.3% during the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 65 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Illinois Tool Works by 39.5% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock worth $16,674,000 after purchasing an additional 19,102 shares during the period. Nordea Investment Management AB boosted its stake in shares of Illinois Tool Works by 9.5% in the 2nd quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock valued at $9,605,000 after purchasing an additional 3,388 shares during the last quarter. Finally, Advisory Alpha LLC acquired a new stake in shares of Illinois Tool Works during the first quarter worth $259,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Truist Financial cut their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. UBS Group lifted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Trading Down 0.1%

ITW opened at $245.16 on Thursday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm has a market capitalization of $71.12 billion, a PE ratio of 23.78, a P/E/G ratio of 4.10 and a beta of 1.11. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The company’s 50-day moving average is $254.28 and its 200 day moving average is $253.00.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the previous year, the company posted $3.91 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $1.61 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Insiders Place Their Bets

In other news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is owned by insiders.

Illinois Tool Works Company 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.