1,444 Shares in Illinois Tool Works Inc. $ITW Bought by Mattson Financial Services LLC

Key Points

• Mattson Financial Services LLC acquired 1,444 shares of Illinois Tool Works Inc. for approximately $357,000 in the second quarter, as disclosed in their recent SEC filing.
• Illinois Tool Works recently increased its quarterly dividend to $1.61, up from $1.50, reflecting a yield of 2.6% for shareholders.
• Following its earnings report on July 30, Illinois Tool Works reported EPS of $2.58, exceeding analyst expectations, with guidance for FY 2025 set between 10.350 and 10.550 EPS.

Mattson Financial Services LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,444 shares of the industrial products company's stock, valued at approximately $357,000.

A number of other large investors have also modified their holdings of ITW. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works during the second quarter worth $25,000. von Borstel & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the first quarter worth $26,000. SOA Wealth Advisors LLC. grew its holdings in shares of Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company's stock worth $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Illinois Tool Works during the first quarter worth $29,000. Finally, 1248 Management LLC purchased a new stake in shares of Illinois Tool Works during the first quarter worth $30,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares of the company's stock, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.88% of the stock is owned by insiders.

Illinois Tool Works Trading Down 0.4%

NYSE ITW opened at $246.75 on Friday. The firm's 50-day moving average is $260.30 and its two-hundred day moving average is $250.86. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month 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 stock has a market capitalization of $71.93 billion, a P/E ratio of 21.63, a PEG ratio of 5.48 and a beta of 1.10.

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

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works's dividend payout ratio is currently 56.44%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ITW shares. Truist Financial upped their target price on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a "hold" rating in a report on Wednesday, October 8th. Citigroup boosted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $262.83.

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.

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