Nordea Investment Management AB Grows Position in Illinois Tool Works Inc. $ITW

Nordea Investment Management AB boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 13.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 44,246 shares of the industrial products company’s stock after acquiring an additional 5,253 shares during the period. Nordea Investment Management AB’s holdings in Illinois Tool Works were worth $11,555,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Frazier Financial Advisors LLC purchased a new position in shares of Illinois Tool Works during the second quarter valued at approximately $25,000. SOA Wealth Advisors LLC. boosted its holdings in 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 purchasing an additional 50 shares during the last quarter. Corsicana & Co. bought a new stake in Illinois Tool Works in the 3rd quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC raised its stake in Illinois Tool Works by 103.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock valued at $31,000 after buying an additional 63 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of several research analyst reports. Truist Financial cut their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Wells Fargo & Company boosted their price target on Illinois Tool Works from $245.00 to $250.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Evercore ISI reduced 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 report on Monday, November 17th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $261.08.

Illinois Tool Works Stock Up 0.6%

ITW stock opened at $263.56 on Friday. The business’s 50-day moving average price is $250.14 and its 200-day moving average price is $254.83. The stock has a market cap of $76.46 billion, a P/E ratio of 25.56, a PEG ratio of 14.08 and a beta of 1.15. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $278.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter last year, the business earned $3.91 EPS. The firm’s 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. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were paid a dividend of $1.61 per share. The ex-dividend date was Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works’s payout ratio is 62.46%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

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.