AG2R LA Mondiale Gestion D Actifs Purchases New Position in Illinois Tool Works Inc. $ITW

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 11,141 shares of Illinois Tool Works Inc., valued at approximately $2.73 million, during the first quarter.
• The stock has seen significant interest from institutional investors, with over 79.77% of the shares owned by them and hedge funds.
• Illinois Tool Works recently increased its quarterly dividend from $1.50 to $1.61 per share, representing a yield of 2.4%.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,141 shares of the industrial products company's stock, valued at approximately $2,730,000.

Several other hedge funds also recently made changes to their positions in the company. Voya Investment Management LLC boosted its position in shares of Illinois Tool Works by 0.5% during the first quarter. Voya Investment Management LLC now owns 59,108 shares of the industrial products company's stock valued at $14,659,000 after purchasing an additional 303 shares in the last quarter. 1248 Management LLC bought a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $36,000. Bontempo Ohly Capital Mgmt LLC bought a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $4,213,000. First Hawaiian Bank boosted its position in shares of Illinois Tool Works by 5.8% during the first quarter. First Hawaiian Bank now owns 916 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 50 shares in the last quarter. Finally, Modern Wealth Management LLC boosted its position in shares of Illinois Tool Works by 8.3% during the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock valued at $210,000 after purchasing an additional 65 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares of the company's stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ITW shares. Citigroup boosted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Truist Financial downgraded 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. Stifel Nicolaus boosted their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an "underperform" rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $260.67.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $1.52 during mid-day trading on Thursday, hitting $264.00. 239,792 shares of the company traded hands, compared to its average volume of 1,058,281. The stock's fifty day moving average price is $261.00 and its 200-day moving average price is $250.90. Illinois Tool Works Inc. has a one year low of $214.66 and a one year 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. The firm has a market cap of $76.96 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.02. The business 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%.Illinois Tool Works's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. 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 disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. 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.