Handelsbanken Fonder AB Decreases Stake in Illinois Tool Works Inc. $ITW

Handelsbanken Fonder AB cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,265 shares of the industrial products company’s stock after selling 10,178 shares during the quarter. Handelsbanken Fonder AB’s holdings in Illinois Tool Works were worth $35,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Modern Wealth Management LLC lifted its stake 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 worth $210,000 after purchasing an additional 65 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Illinois Tool Works by 39.5% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock valued at $16,674,000 after buying an additional 19,102 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted 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 buying an additional 2,647 shares during the last quarter. Nordea Investment Management AB boosted its stake in Illinois Tool Works by 9.5% in the second quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock worth $9,605,000 after buying an additional 3,388 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Illinois Tool Works by 12.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after acquiring an additional 415,982 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 2.8%

NYSE ITW opened at $247.79 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The stock has a market capitalization of $71.88 billion, a PE ratio of 24.03, a PEG ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The business’s 50-day moving average is $251.26 and its 200 day moving average is $253.03.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the company posted $3.91 EPS. Illinois Tool Works’s quarterly revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

Insiders Place Their Bets

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the transaction, the director owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird set a $265.00 price objective on shares of Illinois Tool Works in a report on Monday, October 27th. Evercore ISI lowered their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research note on Monday, November 17th. Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. Truist Financial decreased their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $263.77.

Illinois Tool Works Profile

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.