ASR Vermogensbeheer N.V. Acquires 1,682 Shares of Illinois Tool Works Inc. $ITW

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Illinois Tool Works Inc. by 3.2%, owning 53,596 shares valued at approximately $13.25 million after acquiring an additional 1,682 shares.
• Illinois Tool Works announced an increase in its quarterly dividend to $1.61 per share, translating to an annualized rate of $6.44 and a dividend yield of 2.5%.
• Wall Street analysts have mixed ratings on the stock, with one Buy, eight Hold, and three Sell ratings, and a consensus price target of $260.67.

ASR Vermogensbeheer N.V. lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,596 shares of the industrial products company's stock after acquiring an additional 1,682 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Illinois Tool Works were worth $13,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McGuire Investment Group LLC boosted its holdings in Illinois Tool Works by 0.9% during the second quarter. McGuire Investment Group LLC now owns 43,646 shares of the industrial products company's stock worth $10,791,000 after purchasing an additional 397 shares during the last quarter. RKL Wealth Management LLC boosted its holdings in Illinois Tool Works by 3.5% during the second quarter. RKL Wealth Management LLC now owns 7,747 shares of the industrial products company's stock worth $1,915,000 after purchasing an additional 260 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company's stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Childress Capital Advisors LLC boosted its holdings in Illinois Tool Works by 37.8% during the second quarter. Childress Capital Advisors LLC now owns 2,250 shares of the industrial products company's stock worth $556,000 after purchasing an additional 617 shares during the last quarter. Finally, Columbia Asset Management boosted its holdings in Illinois Tool Works by 7.3% during the second quarter. Columbia Asset Management now owns 9,555 shares of the industrial products company's stock worth $2,362,000 after purchasing an additional 651 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ITW. Truist Financial cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price target on the stock. in a report on Thursday, July 31st. Citigroup boosted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an "underperform" rating in a report on Tuesday, August 19th. Barclays boosted their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Finally, Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Reduce" and a consensus price target of $260.67.

Illinois Tool Works Stock Down 0.3%

ITW opened at $259.89 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The stock has a market cap of $75.76 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 5.62 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company's 50-day moving average price is $261.50 and its two-hundred day moving average price is $250.98.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly 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 company had revenue of $4.05 billion for 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%. Illinois Tool Works's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts expect 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 declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio is currently 56.44%.

Insider Activity at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company's stock.

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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