KLP Kapitalforvaltning AS Raises Stock Position in Illinois Tool Works Inc. $ITW

KLP Kapitalforvaltning AS grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,285 shares of the industrial products company’s stock after acquiring an additional 3,600 shares during the period. KLP Kapitalforvaltning AS owned about 0.05% of Illinois Tool Works worth $41,753,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Kathmere Capital Management LLC lifted its holdings in Illinois Tool Works by 33.4% in the 3rd quarter. Kathmere Capital Management LLC now owns 6,934 shares of the industrial products company’s stock worth $1,808,000 after purchasing an additional 1,735 shares in the last quarter. Spirepoint Private Client LLC raised its position in shares of Illinois Tool Works by 0.8% during the third quarter. Spirepoint Private Client LLC now owns 8,087 shares of the industrial products company’s stock valued at $2,109,000 after buying an additional 62 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in shares of Illinois Tool Works by 2.8% in the third quarter. Gladstone Institutional Advisory LLC now owns 1,684 shares of the industrial products company’s stock worth $439,000 after buying an additional 46 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Illinois Tool Works by 10.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 12,925 shares of the industrial products company’s stock worth $3,370,000 after acquiring an additional 1,238 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in Illinois Tool Works by 2.9% during the third quarter. D.A. Davidson & CO. now owns 16,591 shares of the industrial products company’s stock valued at $4,326,000 after acquiring an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity

In related news, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of several research analyst reports. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research note on Monday, October 27th. Barclays lifted their target price on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Wells Fargo & Company reissued an “underweight” rating on shares of Illinois Tool Works in a research note on Wednesday. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $255.00 in a research note on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $259.25.

Illinois Tool Works Trading Up 1.8%

Shares of ITW stock opened at $254.09 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $278.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $248.15 and its two-hundred day simple moving average is $254.39. The company has a market cap of $73.71 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 10.35 and a beta of 1.15.

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, topping analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the previous year, the business earned $3.91 EPS. The company’s quarterly revenue 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. Research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

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.