KLP Kapitalforvaltning AS Buys 34,260 Shares of Illinois Tool Works Inc. $ITW

KLP Kapitalforvaltning AS grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 21.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 193,545 shares of the industrial products company’s stock after acquiring an additional 34,260 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Illinois Tool Works were worth $47,935,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $28,000. Beacon Financial Strategies CORP bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $29,000. True Wealth Design LLC lifted its position in shares of Illinois Tool Works by 341.9% during the 3rd quarter. True Wealth Design LLC now owns 137 shares of the industrial products company’s stock worth $36,000 after buying an additional 106 shares during the last quarter. MTM Investment Management LLC lifted its position in shares of Illinois Tool Works by 70.5% during the 3rd quarter. MTM Investment Management LLC now owns 162 shares of the industrial products company’s stock worth $42,000 after buying an additional 67 shares during the last quarter. Finally, Financial Consulate Inc. bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth $43,000. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ITW has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Illinois Tool Works from $327.00 to $303.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Wednesday, January 28th. The Goldman Sachs Group restated a “sell” rating and set a $253.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, February 3rd. Wolfe Research upped their price objective on Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a research report on Friday, February 27th. Finally, Citigroup upped their price objective on Illinois Tool Works from $271.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and an average target price of $270.00.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $271.15 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $78.11 billion, a PE ratio of 25.85, a P/E/G ratio of 4.90 and a beta of 1.13. Illinois Tool Works Inc. has a 12 month low of $228.76 and a 12 month high of $303.15. The stock has a 50-day moving average price of $275.14 and a two-hundred day moving average price of $261.03.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.69 by $0.03. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.07 billion. Illinois Tool Works had a return on equity of 95.16% and a net margin of 19.11%.The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company earned $2.54 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. Analysts expect that Illinois Tool Works Inc. will post 11.26 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Tuesday, March 31st were given a $1.61 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $6.44 annualized dividend and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 61.39%.

Insider Activity

In other Illinois Tool Works news, Director Ernest Scott Santi sold 167,345 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $290.93, for a total value of $48,685,680.85. Following the completion of the transaction, the director directly owned 258,766 shares in the company, valued at approximately $75,282,792.38. This trade represents a 39.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Axel Beck sold 4,223 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $290.22, for a total value of $1,225,599.06. Following the completion of the transaction, the executive vice president owned 5,789 shares of the company’s stock, valued at $1,680,083.58. This represents a 42.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is currently owned by company insiders.

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.