Geode Capital Management LLC Buys 184,301 Shares of Illinois Tool Works Inc. $ITW

Geode Capital Management LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,944,651 shares of the industrial products company’s stock after purchasing an additional 184,301 shares during the period. Geode Capital Management LLC’s holdings in Illinois Tool Works were worth $1,709,734,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ITW. Northwestern Mutual Wealth Management Co. raised its position in Illinois Tool Works by 1,517.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company’s stock worth $96,062,000 after purchasing an additional 365,915 shares during the last quarter. Caisse de depot et placement du Quebec grew its holdings in Illinois Tool Works by 293.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 424,547 shares of the industrial products company’s stock worth $110,705,000 after acquiring an additional 316,512 shares during the period. SG Americas Securities LLC grew its holdings in Illinois Tool Works by 316.3% during the 4th quarter. SG Americas Securities LLC now owns 366,012 shares of the industrial products company’s stock worth $90,149,000 after acquiring an additional 278,085 shares during the period. Marshall Wace LLP grew its holdings in Illinois Tool Works by 161.3% during the 3rd quarter. Marshall Wace LLP now owns 400,152 shares of the industrial products company’s stock worth $104,344,000 after acquiring an additional 246,994 shares during the period. Finally, UBS Group AG grew its holdings in Illinois Tool Works by 10.7% during the 4th quarter. UBS Group AG now owns 2,101,383 shares of the industrial products company’s stock worth $517,571,000 after acquiring an additional 203,863 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW opened at $249.29 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. The stock has a 50-day moving average of $260.22 and a 200-day moving average of $262.39. The company has a market cap of $71.72 billion, a PE ratio of 23.15, a P/E/G ratio of 4.30 and a beta of 1.04. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.57 by $0.09. The company had revenue of $4.02 billion during 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 revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last 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 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders 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 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.80%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Evercore decreased their price target on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 price target on shares of Illinois Tool Works in a report on Thursday, April 30th. JPMorgan Chase & Co. decreased their price target on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Truist Financial increased their price target on Illinois Tool Works from $275.00 to $280.00 and gave the stock a “hold” rating in a report on Wednesday, February 4th. Finally, Barclays decreased their price target on 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 investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company 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.