3,281,978 Shares in Illinois Tool Works Inc. $ITW Acquired by Norges Bank

Norges Bank bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm bought 3,281,978 shares of the industrial products company’s stock, valued at approximately $808,351,000.

Other hedge funds have also recently bought and sold shares of the company. Cresta Advisors Ltd. acquired a new stake in Illinois Tool Works during the fourth quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $28,000. Beacon Financial Strategies CORP acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $29,000. Ares Financial Consulting LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $31,000. Finally, Basepoint Wealth LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

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Illinois Tool Works Stock Performance

NYSE:ITW opened at $247.11 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $71.09 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 4.25 and a beta of 1.04. The firm’s fifty day simple moving average is $259.94 and its 200 day simple moving average is $262.28. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15.

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

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.61 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is presently 59.80%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research analyst reports. Robert W. Baird set a $278.00 price target on shares of Illinois Tool Works in a report on Wednesday, February 4th. Citigroup lifted their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. Finally, Truist Financial lifted their price target on shares of Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $271.92.

Check Out Our Latest Research Report on ITW

Illinois Tool Works Profile

(Free Report)

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.

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