Korea Investment CORP Buys 30,126 Shares of Illinois Tool Works Inc. $ITW

Korea Investment CORP increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 15.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 222,084 shares of the industrial products company’s stock after purchasing an additional 30,126 shares during the quarter. Korea Investment CORP owned approximately 0.08% of Illinois Tool Works worth $57,911,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in Illinois Tool Works in the 2nd quarter valued at approximately $821,888,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Illinois Tool Works by 12.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after buying an additional 415,982 shares during the period. Laurel Wealth Advisors LLC grew its holdings in shares of Illinois Tool Works by 24,625.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 343,431 shares of the industrial products company’s stock worth $84,913,000 after purchasing an additional 342,042 shares in the last quarter. Vanguard Group Inc. boosted its stake in Illinois Tool Works by 1.3% during the second quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock worth $6,607,453,000 after buying an additional 335,955 shares in the last quarter. Finally, Invesco Ltd. raised its position in Illinois Tool Works by 9.1% in the second quarter. Invesco Ltd. now owns 2,220,345 shares of the industrial products company’s stock worth $548,980,000 after purchasing an additional 185,416 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Illinois Tool Works from $250.00 to $270.00 and gave the company an “underweight” rating in a research note on Wednesday, February 4th. Evercore reduced their price objective on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Wednesday, January 28th. UBS Group reaffirmed a “neutral” rating and set a $285.00 price objective on shares of Illinois Tool Works in a report on Wednesday, February 4th. Finally, Barclays lifted their price objective on Illinois Tool Works from $244.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $275.69.

Insider Activity at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 167,345 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the transaction, the director owned 258,766 shares in the company, valued at approximately $75,282,792.38. This trade represents a 39.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Axel Beck sold 4,223 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the completion of the transaction, the executive vice president owned 5,789 shares in the company, valued at $1,680,083.58. This trade represents a 42.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

NYSE:ITW opened at $276.95 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.07. The firm has a fifty day simple moving average of $273.02 and a 200 day simple moving average of $260.47. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $303.15. The stock has a market capitalization of $79.82 billion, a PE ratio of 26.40, a P/E/G ratio of 14.84 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.03. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.07 billion. Illinois Tool Works had a net margin of 19.11% and a return on equity of 95.16%. Illinois Tool Works’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. On average, research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 61.39%.

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.