Nykredit A S Acquires Shares of 75,884 Illinois Tool Works Inc. $ITW

Nykredit A S acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 75,884 shares of the industrial products company’s stock, valued at approximately $20,524,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Illinois Tool Works during the second quarter valued at $6,296,349,000. Norges Bank acquired a new stake in Illinois Tool Works during the 4th quarter worth about $808,351,000. Bank of New York Mellon Corp purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at about $603,166,000. Legal & General Group Plc purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at about $500,748,000. Finally, Deutsche Bank AG acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $221,746,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Matteo Pigozzo sold 277 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ernest Santi sold 41,431 shares of Illinois Tool Works stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the sale, the director owned 266,288 shares in the company, valued at approximately $76,448,621.92. This trade represents a 13.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Wolfe Research reaffirmed an “underperform” rating and set a $286.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 9th. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Evercore dropped their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $281.25.

Illinois Tool Works Stock Up 0.9%

Shares of ITW opened at $271.54 on Friday. The firm has a market cap of $77.33 billion, a P/E ratio of 24.62, a PEG ratio of 3.64 and a beta of 0.98. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The stock’s 50 day moving average is $280.36 and its two-hundred day moving average is $270.63. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the prior year, the company posted $2.58 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Analysts predict that Illinois Tool Works Inc. will post 11.45 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.72 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.61. This represents a $6.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 58.39%.

About Illinois Tool Works

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.