Allstate Corp Purchases 5,243 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Allstate Corp increased its stake in Illinois Tool Works Inc. by 57%, owning 14,445 shares valued at approximately $3.58 million as of its latest SEC filing.
• Illinois Tool Works recently declared a quarterly dividend of $1.61 per share, a rise from its previous dividend of $1.50, reflecting a 2.4% dividend yield.
• The company reported a quarterly earnings of $2.58 per share, surpassing analysts' expectations of $2.56, and has set an earnings guidance for FY 2025 of 10.350-10.550 EPS.

Allstate Corp boosted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 57.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,445 shares of the industrial products company's stock after acquiring an additional 5,243 shares during the period. Allstate Corp's holdings in Illinois Tool Works were worth $3,583,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Compound Planning Inc. raised its position in Illinois Tool Works by 3.7% in the first quarter. Compound Planning Inc. now owns 4,787 shares of the industrial products company's stock worth $1,187,000 after acquiring an additional 169 shares during the period. Norinchukin Bank The increased its stake in shares of Illinois Tool Works by 2.8% in the first quarter. Norinchukin Bank The now owns 101,263 shares of the industrial products company's stock worth $25,114,000 after purchasing an additional 2,736 shares in the last quarter. Integras Partners LLC increased its stake in shares of Illinois Tool Works by 5.8% in the first quarter. Integras Partners LLC now owns 10,423 shares of the industrial products company's stock worth $2,585,000 after purchasing an additional 570 shares in the last quarter. CW Advisors LLC increased its stake in shares of Illinois Tool Works by 17.6% in the first quarter. CW Advisors LLC now owns 14,405 shares of the industrial products company's stock worth $3,574,000 after purchasing an additional 2,159 shares in the last quarter. Finally, Summit Financial LLC increased its stake in shares of Illinois Tool Works by 3.5% in the first quarter. Summit Financial LLC now owns 3,809 shares of the industrial products company's stock worth $945,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the stock in a transaction dated Monday, June 2nd. The stock was purchased at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director owned 122,884 shares in the company, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Down 0.8%

Shares of ITW traded down $2.26 during mid-day trading on Thursday, reaching $264.57. The company's stock had a trading volume of 195,137 shares, compared to its average volume of 1,080,835. The stock has a market cap of $77.12 billion, a PE ratio of 23.19, a P/E/G ratio of 5.74 and a beta of 1.09. 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 52 week low of $214.66 and a 52 week high of $279.13. The company's fifty day moving average price is $257.03 and its two-hundred day moving average price is $250.60.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 21.31% and a return on equity of 90.89%. The business's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, analysts predict 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 issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date 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 (DPR) is presently 52.59%.

Analyst Ratings Changes

Several equities analysts recently commented on ITW shares. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Citigroup boosted their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Finally, Barclays boosted their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $260.67.

About Illinois Tool Works

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.