BI Asset Management Fondsmaeglerselskab A S Has $23.46 Million Position in Illinois Tool Works Inc. $ITW

BI Asset Management Fondsmaeglerselskab A S grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 26.7% during the 4th quarter, Holdings Channel reports. The firm owned 95,232 shares of the industrial products company’s stock after purchasing an additional 20,090 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Illinois Tool Works were worth $23,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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 valued at $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Illinois Tool Works by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock valued at $1,709,734,000 after purchasing an additional 184,301 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Illinois Tool Works by 3.0% in the 3rd quarter. Capital Research Global Investors now owns 4,493,555 shares of the industrial products company’s stock valued at $1,171,740,000 after purchasing an additional 131,702 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Illinois Tool Works by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock valued at $912,562,000 after purchasing an additional 54,519 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Illinois Tool Works by 11.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company’s stock valued at $815,587,000 after purchasing an additional 353,056 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays reduced their target price on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. JPMorgan Chase & Co. cut their price objective on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Evercore cut their price objective on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, Citigroup lifted their price target on Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus target price of $271.92.

Insider Activity

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares of the company’s stock, valued at $409,679.48. This represents a 95.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $252.48 on Friday. The stock has a 50-day simple moving average of $258.67 and a 200 day simple moving average of $262.46. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The stock has a market capitalization of $72.64 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 4.31 and a beta of 1.01.

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

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works’s payout ratio 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.