Legal & General Group Plc Increases Holdings in Illinois Tool Works Inc. $ITW

Legal & General Group Plc increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,031,123 shares of the industrial products company’s stock after acquiring an additional 77,525 shares during the period. Legal & General Group Plc’s holdings in Illinois Tool Works were worth $529,636,000 as of its most recent SEC filing.

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

Illinois Tool Works Trading Down 1.2%

Shares of NYSE ITW opened at $273.16 on Wednesday. The stock has a market capitalization of $78.72 billion, a PE ratio of 26.04, a PEG ratio of 14.80 and a beta of 1.13. 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 stock has a fifty day simple moving average of $273.96 and a 200-day simple moving average of $260.61. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $303.15.

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

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.44 annualized dividend and a yield of 2.4%. Illinois Tool Works’s payout ratio is 61.39%.

Analyst Ratings Changes

ITW has been the topic of a number of recent research reports. Citigroup increased their price objective on shares of Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. UBS Group reaffirmed a “neutral” rating and issued a $285.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Evercore lowered their price target on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research report on Monday, November 17th. Robert W. Baird set a $278.00 price objective on shares of Illinois Tool Works in a report on Wednesday, February 4th. Finally, Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $220.00 to $255.00 in a research note on Tuesday, November 18th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average target price of $275.69.

Insider Buying and Selling at Illinois Tool Works

In other news, 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 value of $1,225,599.06. Following the completion of the sale, the executive vice president directly owned 5,789 shares of the company’s stock, valued at approximately $1,680,083.58. This represents a 42.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 167,345 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total value of $48,685,680.85. Following the sale, the director owned 258,766 shares of the company’s stock, valued at $75,282,792.38. This trade represents a 39.27% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by corporate 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.