Legal & General Group Plc Sells 83,731 Shares of Illinois Tool Works Inc. $ITW

Legal & General Group Plc decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,947,392 shares of the industrial products company’s stock after selling 83,731 shares during the quarter. Legal & General Group Plc’s holdings in Illinois Tool Works were worth $479,643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cresta Advisors Ltd. bought a new position in shares of Illinois Tool Works during the 4th quarter worth $25,000. Lodestone Wealth Management LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at about $28,000. Beacon Financial Strategies CORP bought a new stake in Illinois Tool Works during the fourth quarter valued at about $29,000. Ares Financial Consulting LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at about $31,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Illinois Tool Works during the fourth quarter valued at about $39,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.1%

Illinois Tool Works stock opened at $252.34 on Tuesday. The stock has a 50-day moving average of $261.28 and a two-hundred day moving average of $262.28. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The stock has a market cap of $72.60 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 4.33 and a beta of 1.04.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results 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 return on equity of 97.36% and a net margin of 19.32%.The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the business posted $2.38 earnings per share. The firm’s 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. On average, research analysts anticipate 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 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is 59.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group reaffirmed a “neutral” rating and set a $285.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Wells Fargo & Company raised their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Monday, April 27th. Robert W. Baird set a $278.00 price objective on Illinois Tool Works in a research report on Wednesday, February 4th. Finally, Evercore dropped their price objective on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $271.92.

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.