Advisors Asset Management Inc. Acquires 6,062 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Advisors Asset Management Inc. increased its holdings in Illinois Tool Works Inc. by 13.4% during the first quarter, acquiring an additional 6,062 shares, bringing their total to 51,334 shares valued at approximately $12.7 million.
• Several major investors have also adjusted their stakes, with institutional ownership in Illinois Tool Works reaching 79.77%.
• Illinois Tool Works announced a quarterly dividend increase from $1.50 to $1.61 per share, yielding 2.5%, with a payout ratio of 52.59%.

Advisors Asset Management Inc. increased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 13.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,334 shares of the industrial products company's stock after purchasing an additional 6,062 shares during the period. Advisors Asset Management Inc.'s holdings in Illinois Tool Works were worth $12,731,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ITW. Sivia Capital Partners LLC purchased a new stake in Illinois Tool Works in the 1st quarter valued at $214,000. OneAscent Financial Services LLC grew its holdings in Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock valued at $416,000 after buying an additional 341 shares in the last quarter. EP Wealth Advisors LLC boosted its position in shares of Illinois Tool Works by 42.2% during the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after acquiring an additional 1,698 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Illinois Tool Works in the 1st quarter worth approximately $946,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Illinois Tool Works by 12.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock worth $10,242,000 after buying an additional 4,560 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on ITW. UBS Group lifted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Citigroup boosted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an "underperform" rating in a research note on Tuesday, August 19th. Barclays raised their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Finally, Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target for the company. in a research report on Wednesday, May 7th. One 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 company. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $260.67.

Illinois Tool Works Stock Down 1.0%

ITW stock opened at $262.09 on Wednesday. The business's 50-day moving average is $258.74 and its two-hundred day moving average is $250.72. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a market cap of $76.40 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 5.71 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company earned $2.54 earnings per share. The business'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. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Investors of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. 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. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works's dividend payout ratio is 52.59%.

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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