Aprio Wealth Management LLC Purchases New Position in Illinois Tool Works Inc. $ITW

Key Points

• Aprio Wealth Management LLC has acquired 1,088 shares of Illinois Tool Works Inc., valued at approximately $270,000, during the first quarter of the year.
• Illinois Tool Works announced a quarterly dividend increase from $1.50 to $1.61 per share, resulting in a 2.4% dividend yield.
• The stock's current market cap stands at $77.44 billion, with recent quarterly earnings reporting a net margin of 21.31% and a revenue of $4.05 billion.

Aprio Wealth Management LLC purchased a new position 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 Securities and Exchange Commission. The firm purchased 1,088 shares of the industrial products company's stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sivia Capital Partners LLC acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $214,000. OneAscent Financial Services LLC increased its holdings in shares of Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after buying an additional 341 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Illinois Tool Works by 42.2% during the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock worth $1,450,000 after buying an additional 1,698 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in Illinois Tool Works in the 1st quarter valued at approximately $946,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Illinois Tool Works by 12.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock valued at $10,242,000 after purchasing an additional 4,560 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Analysts Set New Price Targets

ITW has been the subject of several research reports. Truist Financial downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price for the company. in a report on Thursday, July 31st. Citigroup lifted their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Finally, Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an "underperform" rating in a report on Tuesday, August 19th. One 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 data from MarketBeat, Illinois Tool Works currently has an average rating of "Reduce" and a consensus target price of $260.67.

Illinois Tool Works Stock Up 0.1%

ITW stock traded up $0.38 during midday trading on Friday, hitting $266.05. The company's stock had a trading volume of 583,082 shares, compared to its average volume of 831,862. The company has a quick ratio of 1.15, a current ratio of 1.59 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 firm has a market capitalization of $77.55 billion, a P/E ratio of 23.32, a PEG ratio of 5.74 and a beta of 1.10. The firm has a 50-day simple moving average of $259.77 and a 200-day simple moving average of $250.78.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This is an increase 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 dividend yield of 2.4%. Illinois Tool Works's dividend payout ratio is presently 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.