AQR Capital Management LLC Acquires 74,773 Shares of Illinois Tool Works Inc. $ITW

Key Points

• AQR Capital Management LLC increased its holdings in Illinois Tool Works by 14.0%, acquiring an additional 74,773 shares, bringing its total ownership to 608,498 shares worth approximately $148.57 million.
• Illinois Tool Works has declared an increase in its quarterly dividend from $1.50 to $1.61 per share, representing an annualized yield of 2.5%.
• The company's recent quarterly earnings surpassed analysts' expectations with $2.58 earnings per share, while total revenue reached $4.05 billion, reflecting a year-over-year increase of 0.6%.

AQR Capital Management LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 608,498 shares of the industrial products company's stock after acquiring an additional 74,773 shares during the period. AQR Capital Management LLC owned about 0.21% of Illinois Tool Works worth $148,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in Illinois Tool Works in the fourth quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works in the first quarter valued at about $26,000. Saudi Central Bank acquired a new position in Illinois Tool Works in the first quarter valued at about $29,000. 1248 Management LLC acquired a new position in Illinois Tool Works in the first quarter valued at about $30,000. Finally, Park Square Financial Group LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at about $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.1%

NYSE ITW traded up $0.38 during trading hours on Friday, hitting $266.05. 583,082 shares of the company traded hands, compared to its average volume of 829,771. The business's 50-day moving average is $259.77 and its 200-day moving average is $250.78. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. 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 stock has a market capitalization of $77.55 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 5.74 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the prior year, the firm posted $2.54 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share 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 paid a $1.61 dividend. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is currently 56.44%.

Analyst Ratings Changes

Several research analysts have recently weighed in on ITW shares. Citigroup upped their price objective 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. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. Wells Fargo & Company upped their price objective 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. Truist Financial cut 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. Finally, UBS Group upped their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. One investment 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 has an average rating of "Reduce" and a consensus target price of $260.67.

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.