Czech National Bank Buys 3,802 Shares of Illinois Tool Works Inc. $ITW

Key Points

• The Czech National Bank increased its holdings in Illinois Tool Works Inc. by 6.2% during the second quarter, bringing its total ownership to 65,173 shares valued at approximately $16.1 million.
• Analysts have set a new average price target of $260.67 for Illinois Tool Works, with varying ratings ranging from "Buy" to "Sell" across different firms.
• Illinois Tool Works recently declared a quarterly dividend of $1.61, an increase from the previous $1.50, resulting in an annualized dividend of $6.44 and a yield of 2.5%.

Czech National Bank grew its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,173 shares of the industrial products company's stock after purchasing an additional 3,802 shares during the quarter. Czech National Bank's holdings in Illinois Tool Works were worth $16,114,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in Illinois Tool Works during the fourth quarter worth $26,000. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works during the first quarter worth about $26,000. Saudi Central Bank acquired a new position in Illinois Tool Works during the first quarter worth about $29,000. 1248 Management LLC acquired a new position in shares of Illinois Tool Works in the first quarter valued at approximately $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of Illinois Tool Works in the first quarter valued at approximately $30,000. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock traded down $1.68 during trading on Friday, hitting $261.91. 1,915,447 shares of the company were exchanged, compared to its average volume of 779,570. The firm has a 50 day moving average price of $261.08 and a 200 day moving average price of $250.88. 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 capitalization of $76.35 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 5.65 and a beta of 1.10. 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 results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm earned $2.54 EPS. The firm's quarterly 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. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm 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 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 yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is 52.59%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research analyst reports. Barclays increased their price target 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. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an "underperform" rating in a research note on Tuesday, August 19th. Citigroup raised their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Stifel Nicolaus lifted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Finally, UBS Group lifted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $260.67.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, September 11th. The shares were 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. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.