Aptus Capital Advisors LLC Has $2.03 Million Stake in Illinois Tool Works Inc. $ITW

Key Points

• Aptus Capital Advisors LLC increased its stake in Illinois Tool Works by 17.7%, now owning 8,181 shares worth approximately $2.03 million.
• Illinois Tool Works reported earnings per share (EPS) of $2.58 for the last quarter, surpassing the analysts' estimates of $2.56.
• The company announced a quarterly dividend of $1.61, which is an increase from the previous dividend of $1.50, representing a 2.5% dividend yield.

Aptus Capital Advisors LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 17.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,181 shares of the industrial products company's stock after purchasing an additional 1,231 shares during the period. Aptus Capital Advisors LLC's holdings in Illinois Tool Works were worth $2,029,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ITW. GAMMA Investing LLC raised its stake in Illinois Tool Works by 26,372.8% during 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 acquiring an additional 2,057,872 shares during the period. Auto Owners Insurance Co raised its stake in Illinois Tool Works by 55,978.4% during 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 acquiring an additional 1,427,450 shares during the period. Nuveen LLC acquired a new stake in Illinois Tool Works during the first quarter worth about $293,928,000. Northern Trust Corp raised its stake in Illinois Tool Works by 3.9% during the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock worth $3,465,570,000 after acquiring an additional 508,188 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 period. Institutional investors and hedge funds own 79.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective on the stock. in a research note on Thursday, July 31st. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday. Citigroup raised their price target 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. Robert W. Baird raised their price target 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. Finally, Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a research note on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $260.67.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works stock in a transaction that occurred 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 acquisition, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock traded up $8.2230 on Friday, hitting $269.2230. The company had a trading volume of 1,069,438 shares, compared to its average volume of 1,067,167. The business has a 50-day simple moving average of $255.55 and a 200-day simple moving average of $250.33. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The company has a market cap of $78.48 billion, a PE ratio of 23.60, a PEG ratio of 5.81 and a beta of 1.09. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data 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 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 business's revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. 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 yield of 2.4%. Illinois Tool Works's payout ratio is 52.59%.

Illinois Tool Works 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.