Vancity Investment Management Ltd Takes Position in Illinois Tool Works Inc. $ITW

Key Points

• Vancity Investment Management Ltd has acquired 1,411 shares of Illinois Tool Works Inc., valued at approximately $350,000, marking a new investment in the company during Q1.
• Illinois Tool Works reported a quarterly earnings per share (EPS) of $2.58, surpassing analysts' expectations of $2.56, along with setting FY 2025 guidance between 10.350 and 10.550 EPS.
• The company announced a quarterly dividend increase to $1.61 per share, representing an annualized yield of 2.4%, with the dividend payout ratio standing at 52.59%.

Vancity Investment Management Ltd bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,411 shares of the industrial products company's stock, valued at approximately $350,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Trust Co of the South grew its position in shares of Illinois Tool Works by 2.9% during the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after acquiring an additional 42 shares during the period. Clearstead Trust LLC boosted its holdings in Illinois Tool Works by 0.9% in the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company's stock worth $1,180,000 after buying an additional 43 shares during the period. Northern Financial Advisors Inc boosted its holdings in Illinois Tool Works by 1.9% in the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company's stock worth $582,000 after buying an additional 44 shares during the period. Integrated Advisors Network LLC boosted its holdings in Illinois Tool Works by 0.8% in the 4th quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock worth $1,504,000 after buying an additional 45 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its holdings in Illinois Tool Works by 3.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock worth $355,000 after buying an additional 46 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Down 1.1%

NYSE:ITW traded down $2.96 during mid-day trading on Friday, hitting $263.41. 668,429 shares of the company's stock were exchanged, compared to its average volume of 1,066,470. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The business has a fifty day moving average price of $260.58 and a 200 day moving average price of $250.89. The company has a market cap of $76.78 billion, a PE ratio of 23.09, a P/E/G ratio of 5.66 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.4%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is presently 52.59%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ITW. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. UBS Group raised their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Finally, Barclays raised their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $260.67.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.