Advisory Alpha LLC Acquires New Stake in Illinois Tool Works Inc. $ITW

Key Points

• Advisory Alpha LLC has acquired a new stake in Illinois Tool Works Inc., purchasing 1,043 shares valued at approximately $259,000.
• Illinois Tool Works announced an increase in its quarterly dividend from $1.50 to $1.61 per share, representing a 2.5% yield.
• Several analysts have revised their target prices for Illinois Tool Works, with an average target price now at $260.67, and the stock currently holds a consensus rating of "Reduce."

Advisory Alpha LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,043 shares of the industrial products company's stock, valued at approximately $259,000.

A number of other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in Illinois Tool Works by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock valued at $627,176,000 after acquiring an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Illinois Tool Works by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company's stock valued at $513,994,000 after acquiring an additional 13,354 shares during the period. GAMMA Investing LLC boosted its holdings in Illinois Tool Works by 26,372.8% during the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock valued at $5,123,080,000 after acquiring an additional 2,057,872 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Illinois Tool Works by 11.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company's stock valued at $522,110,000 after acquiring an additional 209,671 shares during the period. Finally, Invesco Ltd. boosted its holdings in Illinois Tool Works by 4.7% during the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock valued at $504,683,000 after acquiring an additional 91,359 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Up 0.2%

ITW opened at $262.59 on Thursday. The firm has a market cap of $76.55 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 5.65 and a beta of 1.10. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The stock has a fifty day moving average price of $260.42 and a 200-day moving average price of $250.85.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.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 posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal 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 positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.59%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ITW. Barclays lifted their target price 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. Stifel Nicolaus lifted their target price 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. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an "underperform" rating in a research report on Tuesday, August 19th. UBS Group lifted 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. Finally, Wells Fargo & Company lifted their target price on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Reduce" and an average target price of $260.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.