Briar Hall Management LLC Lowers Position in Illinois Tool Works Inc. $ITW

Key Points

• Briar Hall Management LLC reduced its stake in Illinois Tool Works Inc. by 0.1%, now holding approximately 25.84 million shares, which constitutes 100% of its portfolio.
• The company recently declared a quarterly dividend of $1.61 per share, increasing from the previous $1.50, with an annualized yield of 2.5%.
• Illinois Tool Works reported an earnings per share of $2.58 for the last quarter, beating analysts' expectations, and anticipates a projected 10.39 EPS for the current fiscal year.

Briar Hall Management LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,838,730 shares of the industrial products company's stock after selling 19,440 shares during the quarter. Illinois Tool Works comprises 100.0% of Briar Hall Management LLC's portfolio, making the stock its largest position. Briar Hall Management LLC owned about 8.82% of Illinois Tool Works worth $6,408,263,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sivia Capital Partners LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $214,000. OneAscent Financial Services LLC increased its position in shares of Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock valued at $416,000 after purchasing an additional 341 shares during the period. EP Wealth Advisors LLC lifted its holdings in Illinois Tool Works by 42.2% in the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after acquiring an additional 1,698 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Illinois Tool Works during the 1st quarter valued at about $946,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Illinois Tool Works by 12.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock worth $10,242,000 after purchasing an additional 4,560 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW traded down $0.9680 during trading on Thursday, reaching $261.0520. The stock had a trading volume of 1,029,979 shares, compared to its average volume of 1,089,731. 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 fifty day simple moving average of $254.69 and a two-hundred day simple moving average of $250.22. The firm has a market capitalization of $76.10 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 5.69 and a beta of 1.09. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts anticipate 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 given 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 dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.59%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director owned 122,884 shares of the company's stock, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

ITW has been the topic of a number of recent research reports. Truist Financial cut Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price on the stock. in a report on Thursday, July 31st. Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a report on Wednesday, May 7th. Barclays lifted their price target on Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Robert W. Baird increased their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an "underperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $260.67.

Illinois Tool Works 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.