Resona Asset Management Co. Ltd. Sells 4,107 Shares of Illinois Tool Works Inc. $ITW

Resona Asset Management Co. Ltd. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,975 shares of the industrial products company’s stock after selling 4,107 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Illinois Tool Works were worth $25,747,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Illinois Tool Works by 1,517.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company’s stock worth $96,062,000 after buying an additional 365,915 shares in the last quarter. Caisse de depot et placement du Quebec grew its position in shares of Illinois Tool Works by 293.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 424,547 shares of the industrial products company’s stock worth $110,705,000 after buying an additional 316,512 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Illinois Tool Works by 316.3% during the 4th quarter. SG Americas Securities LLC now owns 366,012 shares of the industrial products company’s stock worth $90,149,000 after buying an additional 278,085 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Illinois Tool Works by 161.3% during the third quarter. Marshall Wace LLP now owns 400,152 shares of the industrial products company’s stock valued at $104,344,000 after purchasing an additional 246,994 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Illinois Tool Works by 10.7% during the fourth quarter. UBS Group AG now owns 2,101,383 shares of the industrial products company’s stock valued at $517,571,000 after purchasing an additional 203,863 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of ITW opened at $247.33 on Wednesday. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 4.29 and a beta of 1.04. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The company has a 50 day moving average of $262.91 and a two-hundred day moving average of $262.07.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.09. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. Illinois Tool Works’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, analysts predict that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.61 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is presently 59.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ITW shares. JPMorgan Chase & Co. dropped their price objective on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Robert W. Baird set a $278.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, February 4th. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Monday, May 4th. Citigroup raised their price objective on Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and an average target price of $271.92.

Illinois Tool Works 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.