Voleon Capital Management LP Takes $1.79 Million Position in Illinois Tool Works Inc. $ITW

Key Points

• Voleon Capital Management LP acquired 7,223 shares of Illinois Tool Works Inc., valued at approximately $1.79 million, marking a new position for the institutional investor.
• Illinois Tool Works recently increased its quarterly dividend from $1.50 to $1.61, providing a 2.4% dividend yield for shareholders.
• Analyst ratings for Illinois Tool Works are mixed, with one "Buy," eight "Hold," and three "Sell" ratings, while the consensus price target is set at $260.67.

Voleon Capital Management LP purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,223 shares of the industrial products company's stock, valued at approximately $1,791,000.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after acquiring an additional 277 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock valued at $901,000 after acquiring an additional 81 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Illinois Tool Works by 40.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,908 shares of the industrial products company's stock valued at $1,244,000 after acquiring an additional 1,407 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Illinois Tool Works by 29.5% during the 4th quarter. Focus Partners Wealth now owns 54,694 shares of the industrial products company's stock valued at $14,353,000 after acquiring an additional 12,454 shares in the last quarter. Finally, Guardian Wealth Advisors LLC NC acquired a new position in shares of Illinois Tool Works during the 4th quarter valued at $203,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Down 1.1%

Shares of ITW traded down $2.96 during midday trading on Friday, hitting $263.41. The company had a trading volume of 668,436 shares, compared to its average volume of 1,066,470. The company's 50 day moving average price is $260.58 and its 200 day moving average price is $250.89. The stock has a market cap of $76.78 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 5.66 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 quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

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

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a $1.61 dividend. 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 an increase from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is presently 52.59%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an "underperform" rating in a report on Tuesday, August 19th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. UBS Group lifted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Finally, Barclays lifted 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 research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Reduce" and an average target price 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.