OP Asset Management Ltd Makes New $7.13 Million Investment in Illinois Tool Works Inc. $ITW

OP Asset Management Ltd acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,408 shares of the industrial products company’s stock, valued at approximately $7,134,000.

A number of other hedge funds have also made changes to their positions in ITW. Vanguard Group Inc. increased its holdings in Illinois Tool Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock valued at $6,622,322,000 after purchasing an additional 189,229 shares in the last quarter. State Street Corp lifted its stake in shares of Illinois Tool Works by 1.2% during the fourth quarter. State Street Corp now owns 12,596,511 shares of the industrial products company’s stock worth $3,122,535,000 after purchasing an additional 151,864 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 6,944,651 shares of the industrial products company’s stock worth $1,709,734,000 after buying an additional 184,301 shares during the period. Capital Research Global Investors grew its stake in shares of Illinois Tool Works by 3.2% in the fourth quarter. Capital Research Global Investors now owns 4,636,392 shares of the industrial products company’s stock valued at $1,141,948,000 after buying an additional 142,837 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Illinois Tool Works by 1.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,705,081 shares of the industrial products company’s stock valued at $912,562,000 after buying an additional 54,519 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon bought 806 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the transaction, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the topic of several recent research reports. Evercore reduced their price target on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Weiss Ratings cut shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Wells Fargo & Company upped their target price 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. Finally, Barclays lowered their price target on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $271.92.

Illinois Tool Works Price Performance

ITW stock opened at $270.25 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The stock’s 50 day moving average is $257.92 and its two-hundred day moving average is $264.00. The company has a market capitalization of $77.75 billion, a PE ratio of 25.09, a P/E/G ratio of 4.53 and a beta of 1.01.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.09. The business 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%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Analysts predict that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.80%.

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.