CHICAGO TRUST Co NA Purchases 1,043 Shares of Illinois Tool Works Inc. $ITW

Key Points

• CHICAGO TRUST Co NA increased its holdings in Illinois Tool Works Inc. by 10.6%, acquiring an additional 1,043 shares during the second quarter, bringing its total to 10,879 shares worth approximately $2.69 million.
• Illinois Tool Works recently reported earnings of $2.58 per share, slightly beating analysts' expectations, with a revenue of $4.05 billion, indicating a 0.6% increase from the previous year.
• The company announced a quarterly dividend of $1.61 per share, increasing from the prior dividend of $1.50, representing an annual yield of 2.5%.

CHICAGO TRUST Co NA lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 10.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,879 shares of the industrial products company's stock after acquiring an additional 1,043 shares during the quarter. CHICAGO TRUST Co NA's holdings in Illinois Tool Works were worth $2,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITW. Sivia Capital Partners LLC bought a new stake in Illinois Tool Works in the first quarter valued at about $214,000. OneAscent Financial Services LLC grew its stake in Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock valued at $416,000 after acquiring an additional 341 shares during the period. Modern Wealth Management LLC grew its stake in Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock valued at $210,000 after acquiring an additional 65 shares during the period. Sowell Financial Services LLC acquired a new position in Illinois Tool Works in the first quarter valued at about $946,000. Finally, Advisory Alpha LLC acquired a new position in Illinois Tool Works in the first quarter valued at about $259,000. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $261.07 on Tuesday. The stock has a market capitalization of $76.10 billion, a PE ratio of 22.88, a P/E/G ratio of 5.65 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. The business has a fifty day moving average price of $261.15 and a two-hundred day moving average price of $250.69. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

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, beating the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Shareholders of record on Tuesday, September 30th will be issued a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.5%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is presently 52.59%.

Insiders Place Their Bets

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ITW. Stifel Nicolaus increased their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Barclays increased their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Wells Fargo & Company increased their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. UBS Group increased their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average 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.

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