Belmont Capital LLC Invests $367,000 in Illinois Tool Works Inc. $ITW

Key Points

• Belmont Capital LLC invested approximately $367,000 in Illinois Tool Works Inc., acquiring 1,479 shares in the first quarter.
• Illinois Tool Works recently increased its quarterly dividend from $1.50 to $1.61, representing a 2.5% dividend yield.
• Analysts are mixed on Illinois Tool Works, with a consensus target price of $260.67 and one "Buy" rating among various Hold and Sell ratings.

Belmont Capital LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,479 shares of the industrial products company's stock, valued at approximately $367,000.

Other hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new position in Illinois Tool Works during the first quarter valued at approximately $26,000. Saudi Central Bank purchased a new position in Illinois Tool Works during the first quarter valued at approximately $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works during the first quarter valued at approximately $30,000. Finally, Park Square Financial Group LLC purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ITW. Barclays boosted 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 research note on Monday, August 4th. Citigroup boosted their price objective 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. Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a research note on Wednesday, May 7th. Stifel Nicolaus lifted 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 report on Thursday, July 31st. Finally, Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $260.67.

Illinois Tool Works Trading Down 1.0%

Shares of Illinois Tool Works stock opened at $262.09 on Wednesday. The firm has a market cap of $76.40 billion, a PE ratio of 22.97, a PEG ratio of 5.71 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a 50 day simple moving average of $258.74 and a two-hundred day simple moving average of $250.72.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.61 dividend. 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 a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.59%.

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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