Pinebridge Investments LLC Takes Position in Illinois Tool Works Inc. $ITW

Pinebridge Investments LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 311,667 shares of the industrial products company’s stock, valued at approximately $76,764,000. Pinebridge Investments LLC owned about 0.11% of Illinois Tool Works at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $3,812,000. SlateStone Wealth LLC lifted its stake in shares of Illinois Tool Works by 4.5% in the 4th quarter. SlateStone Wealth LLC now owns 8,305 shares of the industrial products company’s stock valued at $2,045,000 after acquiring an additional 357 shares during the last quarter. Prudential PLC lifted its stake in shares of Illinois Tool Works by 71.0% in the 4th quarter. Prudential PLC now owns 33,038 shares of the industrial products company’s stock valued at $8,137,000 after acquiring an additional 13,716 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in shares of Illinois Tool Works by 6.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,518 shares of the industrial products company’s stock valued at $374,000 after acquiring an additional 87 shares during the last quarter. Finally, Vise Technologies Inc. lifted its stake in shares of Illinois Tool Works by 91.7% in the 4th quarter. Vise Technologies Inc. now owns 8,707 shares of the industrial products company’s stock valued at $2,144,000 after acquiring an additional 4,165 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were purchased 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 $409,679.48. This represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.83% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Wolfe Research boosted their price target on Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a report on Friday, February 27th. Weiss Ratings downgraded Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Wells Fargo & Company boosted their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Finally, Barclays reduced their price target on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $271.92.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $252.48 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. The company has a market capitalization of $72.64 billion, a P/E ratio of 23.44, a PEG ratio of 4.31 and a beta of 1.01. The stock’s 50 day moving average is $258.67 and its 200 day moving average is $262.46. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.09. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, equities research 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 company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders 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 dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio is presently 59.80%.

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.