3,190 Shares in Illinois Tool Works Inc. $ITW Purchased by Clare Market Investments LLC

Key Points

• Clare Market Investments LLC purchased a new stake in Illinois Tool Works Inc. during the 2nd quarter, acquiring 3,190 shares valued at approximately $789,000.
• Illinois Tool Works recently increased its quarterly dividend to $1.61, representing an annualized payout of $6.44 and a yield of 2.4%.
• The company's latest earnings report showed an EPS of $2.58, exceeding analysts' estimates, with a net margin of 21.31% and revenue of $4.05 billion for the quarter.

Clare Market Investments LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,190 shares of the industrial products company's stock, valued at approximately $789,000.

A number of other large investors have also added to or reduced their stakes in ITW. Charles Schwab Investment Management Inc. grew its stake in shares of Illinois Tool Works by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock worth $627,176,000 after acquiring an additional 11,854 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Illinois Tool Works by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company's stock valued at $513,994,000 after buying an additional 13,354 shares during the last quarter. GAMMA Investing LLC boosted its position in Illinois Tool Works by 26,372.8% in the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares in the last quarter. Invesco Ltd. boosted its position in Illinois Tool Works by 4.7% in the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock worth $504,683,000 after purchasing an additional 91,359 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Illinois Tool Works by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company's stock worth $435,508,000 after purchasing an additional 45,316 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

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

Illinois Tool Works Price Performance

Shares of ITW stock traded up $0.66 during mid-day trading on Tuesday, hitting $261.55. 144,690 shares of the stock traded hands, compared to its average volume of 1,058,484. 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 firm has a market cap of $76.24 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10. The company's 50-day simple moving average is $261.15 and its 200-day simple moving average is $250.69. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion for 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% on a year-over-year basis. During the same period in the previous 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, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given 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 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's payout ratio is presently 52.59%.

Analysts Set New Price Targets

Several equities research analysts have commented on ITW shares. Stifel Nicolaus upped their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an "underperform" rating in a research note on Tuesday, August 19th. UBS Group increased their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Barclays raised their target price on Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target 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.