Jacobs Levy Equity Management Inc. Invests $17.76 Million in Illinois Tool Works Inc. $ITW

Key Points

• Jacobs Levy Equity Management Inc. acquired 71,597 shares of Illinois Tool Works Inc., valued at approximately $17.76 million, marking a significant investment in the company during the first quarter.
• Illinois Tool Works recently announced a quarterly dividend increase to $1.61 per share, reflecting a commitment to returning value to shareholders.
• The company's latest earnings report showed a slight revenue increase of 0.6% year-over-year, with earnings per share of $2.58, surpassing analyst expectations.

Jacobs Levy Equity Management Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 71,597 shares of the industrial products company's stock, valued at approximately $17,757,000.

A number of other large investors also recently modified their holdings of ITW. Trust Co of the South grew its position in Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after buying an additional 42 shares during the period. Clearstead Trust LLC lifted its stake in Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company's stock worth $1,180,000 after purchasing an additional 43 shares during the last quarter. Northern Financial Advisors Inc raised its position 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 purchasing an additional 44 shares during the period. Integrated Advisors Network LLC boosted its stake in shares of Illinois Tool Works by 0.8% during the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after purchasing an additional 45 shares during the period. Finally, Deseret Mutual Benefit Administrators lifted 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 currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ITW. Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Wells Fargo & Company raised their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Truist Financial cut Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price on the stock. in a report on Thursday, July 31st. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. Finally, UBS Group increased their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. One investment 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. According to MarketBeat, Illinois Tool Works currently has a consensus rating of "Reduce" and an average target price of $260.67.

Illinois Tool Works Stock Up 1.1%

Shares of ITW stock traded up $2.96 during mid-day trading on Thursday, hitting $265.51. 549,236 shares of the stock traded hands, compared to its average volume of 1,065,705. The stock has a market cap of $77.40 billion, a P/E ratio of 23.28, a P/E/G ratio of 5.65 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week 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's fifty day moving average is $260.42 and its two-hundred day moving average is $250.85.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $4.01 billion. During the same period last year, the business earned $2.54 EPS. Illinois Tool Works's revenue for the quarter was up .6% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio is currently 52.59%.

Illinois Tool Works Company 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.