Bahl & Gaynor Inc. Increases Stock Position in Illinois Tool Works Inc. $ITW

Key Points

• Bahl & Gaynor Inc. increased its holdings in Illinois Tool Works by 0.2%, now owning 678,156 shares worth approximately $168.19 million.
• Illinois Tool Works recently increased its quarterly dividend to $1.61 from the previous $1.50, with a yield of 2.4% and a payout ratio of 56.44%.
• Analysts have set a range of price targets for Illinois Tool Works, with an average target of $260.67, while the stock holds an average rating of "Reduce."

Bahl & Gaynor Inc. lifted its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 678,156 shares of the industrial products company's stock after purchasing an additional 1,429 shares during the period. Bahl & Gaynor Inc. owned about 0.23% of Illinois Tool Works worth $168,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ITW. Ameriflex Group Inc. acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $26,000. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $26,000. Park Square Financial Group LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $35,000. Olde Wealth Management LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $49,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Illinois Tool Works by 167.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 132 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $0.69 during mid-day trading on Wednesday, reaching $266.93. The company's stock had a trading volume of 659,324 shares, compared to its average volume of 1,086,380. The stock has a 50-day moving average of $256.51 and a two-hundred day moving average of $250.48. The stock has a market capitalization of $77.81 billion, a P/E ratio of 23.39, a P/E/G ratio of 5.75 and a beta of 1.09. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

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 analysts' consensus estimates 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 quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be issued a $1.61 dividend. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's payout ratio is currently 52.59%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price 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. UBS Group upped their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. Truist Financial cut shares of 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, Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research report 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 MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Reduce" and an average target price of $260.67.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director directly owned 122,884 shares in the company, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

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.