Hsbc Holdings PLC Reduces Position in Illinois Tool Works Inc. $ITW

Hsbc Holdings PLC lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.0% in the first quarter, Holdings Channel.com reports. The firm owned 794,401 shares of the industrial products company’s stock after selling 24,844 shares during the period. Hsbc Holdings PLC’s holdings in Illinois Tool Works were worth $206,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in 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 worth $6,622,322,000 after buying an additional 189,229 shares during the period. State Street Corp boosted its holdings in shares of Illinois Tool Works by 1.2% in the fourth quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock worth $3,122,535,000 after acquiring an additional 151,864 shares during the period. Geode Capital Management LLC grew its position in shares of Illinois Tool Works by 2.7% in the fourth 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 raised its stake in shares of Illinois Tool Works by 3.2% during the 4th quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after purchasing an additional 142,837 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Illinois Tool Works by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock worth $912,562,000 after purchasing an additional 54,519 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $276.19 on Friday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The company has a market cap of $79.46 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00. The stock has a 50-day moving average price of $259.88 and a 200-day moving average price of $266.03.

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

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.3%. Illinois Tool Works’s dividend payout ratio is presently 59.80%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon acquired 806 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the acquisition, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ITW shares. Evercore cut their target price on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Truist Financial increased their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Wolfe Research restated an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 9th. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Monday, July 13th. Finally, Weiss Ratings cut shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $274.00.

About Illinois Tool Works

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.