Resona Asset Management Co. Ltd. Reduces Stake in Illinois Tool Works Inc. $ITW

Resona Asset Management Co. Ltd. lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,975 shares of the industrial products company’s stock after selling 4,107 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Illinois Tool Works were worth $25,747,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Illinois Tool Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock worth $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. Capital Research Global Investors raised its position in shares of Illinois Tool Works by 3.0% during the 3rd quarter. Capital Research Global Investors now owns 4,493,555 shares of the industrial products company’s stock worth $1,171,740,000 after purchasing an additional 131,702 shares during the last quarter. Fisher Asset Management LLC raised its stake in Illinois Tool Works by 1.5% in the 3rd quarter. Fisher Asset Management LLC now owns 3,650,562 shares of the industrial products company’s stock valued at $951,921,000 after purchasing an additional 55,416 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Illinois Tool Works by 1.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,587,639 shares of the industrial products company’s stock valued at $674,871,000 after purchasing an additional 33,171 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Illinois Tool Works by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,333,765 shares of the industrial products company’s stock valued at $608,552,000 after acquiring an additional 7,372 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Barclays dropped their target price on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Monday, April 27th. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, Wells Fargo & Company upped their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and an average target price of $271.92.

Illinois Tool Works Price Performance

ITW stock opened at $247.33 on Wednesday. The firm has a 50 day moving average of $262.91 and a 200-day moving average of $262.07. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. 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 company has a market cap of $71.16 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 4.29 and a beta of 1.04.

Illinois Tool Works (NYSE:ITW) last announced 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 firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, equities analysts expect that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid 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 dividend payout ratio (DPR) is currently 59.80%.

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.