Norges Bank Acquires New Position in Illinois Tool Works Inc. $ITW

Norges Bank acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,281,978 shares of the industrial products company’s stock, valued at approximately $808,351,000. Norges Bank owned 1.13% of Illinois Tool Works as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ITW. Cresta Advisors Ltd. purchased a new position in Illinois Tool Works in the fourth quarter valued at about $25,000. Lodestone Wealth Management LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $28,000. Beacon Financial Strategies CORP purchased a new position in Illinois Tool Works in the fourth quarter valued at about $29,000. Ares Financial Consulting LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $31,000. Finally, Basepoint Wealth LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $32,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ITW. Truist Financial increased their target price on shares of Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, February 4th. Evercore dropped their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. The Goldman Sachs Group reissued a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Citigroup raised their price objective on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus price target of $271.92.

Illinois Tool Works Trading Down 1.0%

Shares of ITW opened at $247.11 on Friday. 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 $259.94 and a 200-day simple moving average of $262.28. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The stock has a market cap of $71.09 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 4.25 and a beta of 1.04.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the company posted $2.38 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.61 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is 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.