KLP Kapitalforvaltning AS Acquires 1,400 Shares of Illinois Tool Works Inc. $ITW

KLP Kapitalforvaltning AS boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 155,685 shares of the industrial products company’s stock after purchasing an additional 1,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Illinois Tool Works were worth $38,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank & Trust Co grew its holdings in shares of Illinois Tool Works by 0.4% during the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 39 shares in the last quarter. TFG Advisers LLC lifted its position in Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after purchasing an additional 42 shares during the period. Clearstead Trust LLC boosted its stake in Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after buying an additional 43 shares in the last quarter. Northern Financial Advisors Inc boosted its stake in Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after buying an additional 44 shares in the last quarter. Finally, Woodmont Investment Counsel LLC increased its holdings in Illinois Tool Works by 2.5% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock valued at $446,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. UBS Group increased their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Finally, Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price for the company. in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and an average target price of $261.58.

Illinois Tool Works Stock Performance

NYSE ITW opened at $258.76 on Tuesday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a 50 day moving average of $261.41 and a 200-day moving average of $251.05. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The firm has a market cap of $75.43 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 5.75 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $2.54 EPS. Illinois Tool Works’s revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is 56.44%.

Illinois Tool Works Company 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.