Swedbank AB Lowers Stock Position in Illinois Tool Works Inc. $ITW

Swedbank AB trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 16.2% during the first quarter, Holdings Channel.com reports. The fund owned 79,583 shares of the industrial products company’s stock after selling 15,381 shares during the period. Swedbank AB’s holdings in Illinois Tool Works were worth $20,715,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Meridian Wealth Management LLC raised its position in Illinois Tool Works by 1.3% in the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 37 shares during the period. Winnow Wealth LLC boosted its position in shares of Illinois Tool Works by 1.0% during the fourth quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock worth $941,000 after buying an additional 37 shares during the period. Crown Wealth Group LLC grew its stake in shares of Illinois Tool Works by 4.0% in the first quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock valued at $248,000 after buying an additional 37 shares in the last quarter. Mayflower Financial Advisors LLC raised its holdings in shares of Illinois Tool Works by 3.8% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company’s stock valued at $262,000 after buying an additional 39 shares during the period. Finally, Revisor Wealth Management LLC lifted its stake in Illinois Tool Works by 1.4% during the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock worth $734,000 after acquiring an additional 39 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITW has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Truist Financial raised their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Barclays dropped their price objective 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. Citigroup increased their target price on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Wolfe Research reissued an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a research report on Thursday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $272.85.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the acquisition, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.83% of the stock is owned by company insiders.

Illinois Tool Works Stock Up 0.1%

Shares of Illinois Tool Works stock opened at $265.26 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 company has a market capitalization of $76.31 billion, a P/E ratio of 24.63, a P/E/G ratio of 4.56 and a beta of 1.00. The company has a 50 day moving average of $257.98 and a 200 day moving average of $265.20.

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

Illinois Tool Works Announces Dividend

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

About Illinois Tool Works

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.