DNB Asset Management AS Has $32.82 Million Stock Holdings in Illinois Tool Works Inc. $ITW

DNB Asset Management AS cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 132,746 shares of the industrial products company’s stock after selling 20,212 shares during the period. DNB Asset Management AS’s holdings in Illinois Tool Works were worth $32,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ITW. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works in the second quarter valued at about $25,000. SOA Wealth Advisors LLC. lifted its holdings in shares of Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $29,000. 1248 Management LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at approximately $30,000. Finally, Banque Transatlantique SA acquired a new position in Illinois Tool Works during the 1st quarter worth approximately $30,000. Institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $247.79 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The stock has a market cap of $71.88 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The stock’s fifty day simple moving average is $251.26 and its two-hundred day simple moving average is $253.03. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

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

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid 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 is Wednesday, December 31st. Illinois Tool Works’s payout ratio is presently 62.46%.

Analysts Set New Price Targets

A number of analysts have weighed in on ITW shares. Robert W. Baird set a $265.00 target price on shares of Illinois Tool Works in a research report on Monday, October 27th. Wells Fargo & Company reduced their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Finally, Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their price target for the company from $220.00 to $255.00 in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average 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.