Nordea Investment Management AB Grows Position in Illinois Tool Works Inc. $ITW

Nordea Investment Management AB lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,246 shares of the industrial products company’s stock after purchasing an additional 5,253 shares during the quarter. Nordea Investment Management AB’s holdings in Illinois Tool Works were worth $11,555,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brendel Financial Advisors LLC increased its position in Illinois Tool Works by 1,328.6% during the 3rd quarter. Brendel Financial Advisors LLC now owns 13,929 shares of the industrial products company’s stock valued at $3,632,000 after purchasing an additional 12,954 shares during the period. Davis Capital Management bought a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $1,162,000. Illinois Municipal Retirement Fund increased its position in shares of Illinois Tool Works by 39.5% during the second quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock valued at $16,674,000 after buying an additional 19,102 shares during the period. Level Four Advisory Services LLC raised its stake in Illinois Tool Works by 16.3% in the second quarter. Level Four Advisory Services LLC now owns 11,680 shares of the industrial products company’s stock worth $2,888,000 after buying an additional 1,638 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Illinois Tool Works by 1.3% in the second quarter. Swiss National Bank now owns 844,000 shares of the industrial products company’s stock worth $208,679,000 after buying an additional 11,200 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ITW shares. Deutsche Bank Aktiengesellschaft upped their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. The Goldman Sachs Group lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and dropped their price target for the company from $258.00 to $230.00 in a research report on Tuesday, December 16th. Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a report on Monday, October 27th. Wolfe Research boosted their target price on shares of Illinois Tool Works from $264.00 to $278.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Evercore ISI reduced their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research report on Monday, November 17th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and an average target price of $261.08.

Illinois Tool Works Trading Up 0.6%

NYSE ITW opened at $263.56 on Friday. The stock’s fifty day moving average price is $250.14 and its 200-day moving average price is $254.83. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The stock has a market cap of $76.46 billion, a P/E ratio of 25.56, a P/E/G ratio of 14.08 and a beta of 1.15. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.13.

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

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were given a dividend of $1.61 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Insiders Place Their Bets

In related news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by 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.