Swedbank AB Has $23.39 Million Holdings in Illinois Tool Works Inc. $ITW

Swedbank AB grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 12.6% in the 4th quarter, HoldingsChannel reports. The fund owned 94,964 shares of the industrial products company’s stock after purchasing an additional 10,609 shares during the quarter. Swedbank AB’s holdings in Illinois Tool Works were worth $23,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. AE Wealth Management LLC raised its position in shares of Illinois Tool Works by 128.4% in the third quarter. AE Wealth Management LLC now owns 9,128 shares of the industrial products company’s stock valued at $2,380,000 after buying an additional 5,131 shares in the last quarter. Siemens Fonds Invest GmbH raised its position in shares of Illinois Tool Works by 70.1% in the third quarter. Siemens Fonds Invest GmbH now owns 18,226 shares of the industrial products company’s stock valued at $4,753,000 after buying an additional 7,508 shares in the last quarter. Madison Asset Management LLC raised its position in shares of Illinois Tool Works by 411.8% in the third quarter. Madison Asset Management LLC now owns 87,875 shares of the industrial products company’s stock valued at $22,914,000 after buying an additional 70,704 shares in the last quarter. Mediolanum International Funds Ltd raised its position in shares of Illinois Tool Works by 10.4% in the third quarter. Mediolanum International Funds Ltd now owns 103,161 shares of the industrial products company’s stock valued at $26,964,000 after buying an additional 9,738 shares in the last quarter. Finally, Huntleigh Advisors Inc. raised its position in shares of Illinois Tool Works by 111.2% in the third quarter. Huntleigh Advisors Inc. now owns 16,276 shares of the industrial products company’s stock valued at $4,244,000 after buying an additional 8,569 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wolfe Research boosted their price objective on shares of Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a research report on Friday, February 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Monday, April 27th. Barclays lowered their price objective on shares of 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. The Goldman Sachs Group restated 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, Citigroup boosted their price objective on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $270.46.

Illinois Tool Works Stock Down 0.4%

Shares of ITW opened at $254.54 on Friday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The company has a market cap of $73.33 billion, a P/E ratio of 23.63, a P/E/G ratio of 4.39 and a beta of 1.04. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $268.73 and a two-hundred day simple moving average of $262.06.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.57 by $0.09. The business 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 company’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 11.36 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Tuesday, March 31st were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, March 31st. Illinois Tool Works’s payout ratio is presently 59.80%.

Illinois Tool Works 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.