American Century Companies Inc. Has $14.99 Million Position in Illinois Tool Works Inc. $ITW

Key Points

• American Century Companies Inc. increased its holdings in Illinois Tool Works Inc. by **10.2%**, acquiring an additional **5,599 shares** during the first quarter.
• Illinois Tool Works recently declared a quarterly dividend of **$1.61 per share**, marking an increase from the previous dividend of **$1.50** and representing a yield of **2.4%**.
• Analysts have varied ratings on Illinois Tool Works, with one **buy**, eight **holds**, and three **sells**, and a consensus target price of **$260.67**.

American Century Companies Inc. grew its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,441 shares of the industrial products company's stock after purchasing an additional 5,599 shares during the period. American Century Companies Inc.'s holdings in Illinois Tool Works were worth $14,990,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ITW. Brighton Jones LLC grew its stake in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after buying an additional 277 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Illinois Tool Works by 4.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 10,372 shares of the industrial products company's stock valued at $2,630,000 after buying an additional 450 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Illinois Tool Works by 5.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 8,087 shares of the industrial products company's stock valued at $2,050,000 after buying an additional 439 shares in the last quarter. Johnson Financial Group Inc. grew its stake in shares of Illinois Tool Works by 71.4% in the 4th quarter. Johnson Financial Group Inc. now owns 1,361 shares of the industrial products company's stock valued at $353,000 after buying an additional 567 shares in the last quarter. Finally, Berger Financial Group Inc bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $262,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW traded down $1.02 during mid-day trading on Friday, hitting $264.73. The company's stock had a trading volume of 963,377 shares, compared to its average volume of 926,250. The stock's 50-day moving average is $258.01 and its two-hundred day moving average is $250.66. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The firm has a market capitalization of $77.17 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 5.71 and a beta of 1.09. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating analysts' consensus estimates 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 was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company 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 $1.61 dividend. The ex-dividend date is Tuesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works's dividend payout ratio is currently 52.59%.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 872 shares of the company's stock in a transaction on 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 completion of the purchase, the director directly owned 122,884 shares of the company's stock, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group boosted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Wells Fargo & Company upped their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Citigroup upped their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Truist Financial cut Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price for the company. in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Illinois Tool Works presently has an average rating of "Reduce" and an average 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.