Amundi Purchases 17,119 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Amundi increased its stake in Illinois Tool Works Inc. by 1.1%, purchasing an additional 17,119 shares, bringing its total ownership to approximately 1,599,648 shares valued at $383,828,000.
• The company recently announced a dividend increase, with shareholders receiving $1.61 per share, up from the previous $1.50, reflecting a 2.5% annualized yield.
• Analysts have mixed ratings for Illinois Tool Works, with an average target price of $260.67 and a majority rating of "Reduce" from research reports.

Amundi grew its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,599,648 shares of the industrial products company's stock after purchasing an additional 17,119 shares during the quarter. Amundi owned approximately 0.55% of Illinois Tool Works worth $383,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ITW. GAMMA Investing LLC boosted its position in shares of Illinois Tool Works by 26,372.8% in the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares during the period. Auto Owners Insurance Co boosted its position in shares of Illinois Tool Works by 55,978.4% in the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company's stock worth $354,654,000 after purchasing an additional 1,427,450 shares during the period. Nuveen LLC bought a new position in shares of Illinois Tool Works during the first quarter worth $293,928,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Illinois Tool Works by 11.3% during the fourth 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 worth $522,110,000 after acquiring an additional 209,671 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Illinois Tool Works during the fourth quarter worth $47,254,000. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. Barclays increased 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 report on Monday, August 4th. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Stifel Nicolaus increased 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 report on Thursday, July 31st. Finally, Truist Financial lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective for the company. in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $260.67.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $260.97 on Thursday. The firm has a 50-day moving average price of $259.04 and a 200-day moving average price of $250.79. The firm has a market capitalization of $76.07 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 5.71 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.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (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 net margin of 21.31% and a return on equity of 90.89%. The business's revenue was up .6% on a year-over-year basis. During the same quarter last year, the business earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a $1.61 dividend. 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 currently 52.59%.

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.

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