Credit Agricole S A Has $25.16 Million Stake in Illinois Tool Works Inc. $ITW

Key Points

• Credit Agricole S A reduced its stake in Illinois Tool Works Inc. by 35.1% in the 1st quarter, bringing its holdings down to 101,440 shares valued at approximately $25.16 million.
• Several research firms have increased their price targets for Illinois Tool Works, with UBS raising the target from $243.00 to $255.00 and Stifel Nicolaus from $255.00 to $261.00, reflecting positive sentiment among analysts.
• Illinois Tool Works announced a quarterly dividend increase to $1.61 per share, up from the previous $1.50, marking a dividend yield of 2.4%.

Credit Agricole S A reduced its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 35.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,440 shares of the industrial products company's stock after selling 54,819 shares during the quarter. Credit Agricole S A's holdings in Illinois Tool Works were worth $25,158,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Illinois Tool Works in the 4th quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at approximately $26,000. Park Square Financial Group LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $35,000. Olde Wealth Management LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at approximately $49,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Illinois Tool Works by 167.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 132 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ITW has been the topic of several research reports. 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. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. UBS Group lifted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Barclays lifted their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Finally, Truist Financial lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price target on the stock. in a report on Thursday, July 31st. One investment 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 data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Reduce" and an average target price of $260.67.

Insider Activity

In other news, Director David Byron Smith, Jr. purchased 872 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were purchased at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the transaction, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Up 3.2%

NYSE:ITW traded up $8.2230 during mid-day trading on Friday, hitting $269.2230. 1,069,438 shares of the company's stock were exchanged, compared to its average volume of 1,067,167. The company has a 50 day simple moving average of $255.55 and a 200-day simple moving average of $250.35. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm has a market capitalization of $78.48 billion, a P/E ratio of 23.60, a PEG ratio of 5.63 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted 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. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company earned $2.54 EPS. The firm's revenue 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. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.61 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.4%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio is 56.44%.

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.