Commerzbank Aktiengesellschaft FI Has $2.94 Million Stock Position in Illinois Tool Works Inc. $ITW

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in Illinois Tool Works Inc. by 9.5%, owning 11,869 shares worth approximately $2.94 million at the end of the last quarter.
• Analysts have responded positively, with some institutions raising their price targets for Illinois Tool Works, with a consensus target price now at $262.83.
• Illinois Tool Works announced a quarterly dividend increase to $1.61, representing an annualized yield of 2.6%, higher than its previous dividend of $1.50.

Commerzbank Aktiengesellschaft FI grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 9.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,869 shares of the industrial products company's stock after purchasing an additional 1,033 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Illinois Tool Works were worth $2,935,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Illinois Tool Works by 0.5% during the 1st 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 increased its holdings in shares of Illinois Tool Works by 0.6% during the 1st 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 worth $513,994,000 after acquiring an additional 13,354 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Illinois Tool Works by 4.7% during the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock worth $504,683,000 after acquiring an additional 91,359 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Illinois Tool Works by 2.6% during 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 acquiring an additional 45,316 shares during the last quarter. Finally, Amundi increased its holdings in shares of Illinois Tool Works by 1.1% during the 1st quarter. Amundi now owns 1,599,648 shares of the industrial products company's stock worth $383,828,000 after acquiring an additional 17,119 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Illinois Tool Works in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a research note on Thursday, October 2nd. Barclays boosted their price target on 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 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. Finally, Truist Financial boosted their price target on Illinois Tool Works from $283.00 to $298.00 and gave the company a "hold" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $262.83.

Illinois Tool Works Price Performance

Shares of ITW opened at $248.19 on Friday. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The business has a 50-day simple moving average of $261.18 and a two-hundred day simple moving average of $251.04. 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 market cap of $72.35 billion, a PE ratio of 21.75, a PEG ratio of 5.59 and a beta of 1.10.

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. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. 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 company also recently announced 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. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is currently 56.44%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company'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 transaction, the chief accounting officer owned 10,314 shares of the company's stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by 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.

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