Illinois Tool Works Inc. $ITW Stock Holdings Lowered by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,763 shares of the industrial products company’s stock after selling 1,306 shares during the quarter. Lansforsakringar Fondforvaltning AB publ owned 0.08% of Illinois Tool Works worth $54,751,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sivia Capital Partners LLC acquired a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $214,000. OneAscent Financial Services LLC raised its holdings in shares of Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after acquiring an additional 341 shares during the period. EP Wealth Advisors LLC grew its position in Illinois Tool Works by 42.2% during the fourth quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company’s stock valued at $1,450,000 after purchasing an additional 1,698 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Illinois Tool Works during the first quarter valued at approximately $946,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Illinois Tool Works by 12.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company’s stock valued at $10,242,000 after purchasing an additional 4,560 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ITW. Citigroup boosted their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Finally, Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price for the company. in a research report on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and an average price target of $260.67.

Illinois Tool Works Price Performance

NYSE:ITW opened at $266.93 on Thursday. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The stock has a market cap of $77.81 billion, a P/E ratio of 23.39, a PEG ratio of 5.74 and a beta of 1.09. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The company has a fifty day moving average price of $257.03 and a 200 day moving average price of $250.60.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm posted $2.54 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s payout ratio is presently 52.59%.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works stock in a transaction dated Monday, June 2nd. The shares were bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director owned 122,884 shares of the company’s stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.88% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.