Nordea Investment Management AB Acquires 3,388 Shares of Illinois Tool Works Inc. $ITW

Nordea Investment Management AB lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,993 shares of the industrial products company’s stock after acquiring an additional 3,388 shares during the period. Nordea Investment Management AB’s holdings in Illinois Tool Works were worth $9,605,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. OneAscent Financial Services LLC raised its holdings in Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after buying an additional 341 shares during the period. Modern Wealth Management LLC increased its position in Illinois Tool Works by 8.3% during the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 65 shares during the last quarter. Advisory Alpha LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter worth about $259,000. Global X Japan Co. Ltd. boosted its stake in shares of Illinois Tool Works by 8.3% during the 2nd quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock worth $624,000 after purchasing an additional 193 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Illinois Tool Works by 17.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company’s stock worth $4,447,000 after purchasing an additional 2,647 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Up 1.4%

NYSE:ITW opened at $252.64 on Tuesday. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The firm has a market cap of $73.65 billion, a P/E ratio of 22.14, a P/E/G ratio of 5.52 and a beta of 1.10. The firm has a 50-day simple moving average of $260.07 and a 200-day simple moving average of $251.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business posted $2.54 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were paid a dividend of $1.61 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 56.44%.

Analysts Set New Price Targets

ITW has been the subject of several analyst reports. Truist Financial raised their price objective on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Citigroup lifted their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $262.83.

Insider Activity at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is currently owned by company insiders.

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.