CW Advisors LLC Acquires 2,159 Shares of Illinois Tool Works Inc. $ITW

Key Points

• CW Advisors LLC increased its stake in Illinois Tool Works by 17.6%, acquiring an additional 2,159 shares to bring their total holdings to 14,405 shares valued at approximately $3.57 million.
• Illinois Tool Works reported earnings of $2.58 per share for the latest quarter, surpassing estimates, with revenue totaling $4.05 billion and showing a year-over-year increase.
• The company recently announced a dividend increase to $1.61 per share, which will be paid to stockholders on October 10th, reflecting its strong financial performance.

CW Advisors LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 17.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,405 shares of the industrial products company's stock after acquiring an additional 2,159 shares during the period. CW Advisors LLC's holdings in Illinois Tool Works were worth $3,574,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ITW. Brighton Jones LLC lifted its holdings in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after acquiring an additional 277 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Illinois Tool Works by 4.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 10,372 shares of the industrial products company's stock valued at $2,630,000 after acquiring an additional 450 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Illinois Tool Works by 5.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 8,087 shares of the industrial products company's stock valued at $2,050,000 after acquiring an additional 439 shares during the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Illinois Tool Works by 71.4% in the 4th quarter. Johnson Financial Group Inc. now owns 1,361 shares of the industrial products company's stock valued at $353,000 after acquiring an additional 567 shares during the last quarter. Finally, Berger Financial Group Inc bought a new position in shares of Illinois Tool Works in the 4th quarter valued at about $262,000. Institutional investors own 79.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITW. 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 research report on Wednesday, May 7th. Robert W. Baird boosted their target price on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Wells Fargo & Company boosted their target price on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Truist Financial lowered Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price for the company. in a research report on Thursday, July 31st. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an "underperform" rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $260.67.

Insider Buying and Selling

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of Illinois Tool Works stock in a transaction that occurred on Monday, June 2nd. The stock was bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the purchase, the director directly owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Trading Down 0.5%

Shares of NYSE ITW traded down $1.25 during trading hours on Friday, reaching $264.51. The stock had a trading volume of 196,112 shares, compared to its average volume of 1,078,676. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The firm has a market cap of $77.10 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 5.76 and a beta of 1.09. The business's fifty day moving average price is $257.52 and its two-hundred day moving average price is $250.65. 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 quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.Illinois Tool Works's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be issued a $1.61 dividend. The ex-dividend date is Tuesday, September 30th. This is a positive change 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 2.4%. Illinois Tool Works's dividend payout ratio (DPR) is presently 56.44%.

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.