PensionDanmark Pensionsforsikringsaktieselskab Acquires 6,604 Shares of Illinois Tool Works Inc. $ITW

PensionDanmark Pensionsforsikringsaktieselskab increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,824 shares of the industrial products company’s stock after acquiring an additional 6,604 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Illinois Tool Works were worth $18,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 55 North Private Wealth LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $332,000. JGP Wealth Management LLC increased its position in shares of Illinois Tool Works by 0.9% during the 2nd quarter. JGP Wealth Management LLC now owns 39,686 shares of the industrial products company’s stock valued at $10,734,000 after purchasing an additional 338 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Illinois Tool Works by 9.7% during the 2nd quarter. GAMMA Investing LLC now owns 11,764 shares of the industrial products company’s stock valued at $3,182,000 after purchasing an additional 1,039 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in Illinois Tool Works by 13.4% during the 2nd quarter. Central Pacific Bank Trust Division now owns 1,244 shares of the industrial products company’s stock valued at $336,000 after buying an additional 147 shares during the period. Finally, Canandaigua National Bank & Trust Co. bought a new stake in Illinois Tool Works in the second quarter worth $306,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.7%

NYSE:ITW opened at $296.63 on Friday. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a market cap of $85.34 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 4.97 and a beta of 0.99. The stock has a fifty day simple moving average of $270.76 and a 200-day simple moving average of $269.49. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 11.46 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on ITW. Truist Financial lifted their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Monday, May 4th. Robert W. Baird lifted their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. UBS Group reiterated a “neutral” rating and set a $300.00 price target on shares of Illinois Tool Works in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Illinois Tool Works from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. One research 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’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $281.25.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon purchased 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the purchase, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.83% of the company’s stock.

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.