Baader Bank Aktiengesellschaft Buys 992 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Baader Bank Aktiengesellschaft increased its holdings in Illinois Tool Works Inc. by 107.9% in the 2nd quarter, now owning 1,911 shares valued at approximately $453,000.
• Multiple hedge funds, including Ameriflex Group Inc. and Saudi Central Bank, have recently acquired positions in Illinois Tool Works, indicating that 79.77% of the company's stock is now owned by institutional investors.
• Illinois Tool Works announced a quarterly dividend increase to $1.61 per share, marking a positive change from the previous $1.50 dividend, with a 2.4% yield.

Baader Bank Aktiengesellschaft lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 107.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,911 shares of the industrial products company's stock after purchasing an additional 992 shares during the period. Baader Bank Aktiengesellschaft's holdings in Illinois Tool Works were worth $453,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Focus Financial Network Inc. lifted its position in shares of Illinois Tool Works by 42.6% during the second quarter. Focus Financial Network Inc. now owns 3,377 shares of the industrial products company's stock worth $835,000 after purchasing an additional 1,009 shares in the last quarter. Sovran Advisors LLC lifted its position in shares of Illinois Tool Works by 12.0% during the second quarter. Sovran Advisors LLC now owns 2,736 shares of the industrial products company's stock worth $706,000 after purchasing an additional 293 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Illinois Tool Works by 20.6% during the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock worth $257,000 after purchasing an additional 177 shares in the last quarter. DLK Investment Management LLC lifted its position in shares of Illinois Tool Works by 1.8% during the second quarter. DLK Investment Management LLC now owns 24,466 shares of the industrial products company's stock worth $6,049,000 after purchasing an additional 440 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc lifted its position in shares of Illinois Tool Works by 10.4% during the second quarter. Hummer Financial Advisory Services Inc now owns 2,540 shares of the industrial products company's stock worth $632,000 after purchasing an additional 240 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.3%

NYSE:ITW traded down $0.79 during trading hours on Monday, hitting $261.07. The stock had a trading volume of 692,305 shares, compared to its average volume of 821,870. Illinois Tool Works Inc. has a one year low of $214.66 and a one year 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 company has a market cap of $76.10 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 5.65 and a beta of 1.10. The business's 50 day moving average is $261.15 and its 200-day moving average is $250.69.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its 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 net margin of 21.31% and a return on equity of 90.89%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm earned $2.54 earnings per share. The business's quarterly revenue was up .6% on a year-over-year basis. 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 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business 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 a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's payout ratio is currently 52.59%.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer owned 10,314 shares of the company's stock, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research reports. Citigroup upped their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. 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 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 report on Thursday, July 31st. 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 report on Monday, August 4th. Finally, UBS Group increased their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. One equities research 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. According to MarketBeat, the stock currently 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.