Dupree Financial Group LLC Has $5.92 Million Position in Illinois Tool Works Inc. $ITW

Key Points

• Dupree Financial Group LLC increased its position in Illinois Tool Works by 109.6% in Q2, now owning 23,945 shares valued at approximately $5.92 million.
• Illinois Tool Works recently reported a quarterly earnings per share (EPS) of $2.58, surpassing estimates and projecting FY 2025 EPS guidance between 10.350-10.550.
• The company announced a dividend increase to $1.61 per share, yielding 2.5%, up from the previous dividend of $1.50.

Dupree Financial Group LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 109.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,945 shares of the industrial products company's stock after purchasing an additional 12,520 shares during the quarter. Illinois Tool Works makes up 2.3% of Dupree Financial Group LLC's holdings, making the stock its 17th biggest position. Dupree Financial Group LLC's holdings in Illinois Tool Works were worth $5,921,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ITW. Fiduciary Family Office LLC increased its position in shares of Illinois Tool Works by 2.6% during the 2nd quarter. Fiduciary Family Office LLC now owns 2,838 shares of the industrial products company's stock valued at $702,000 after purchasing an additional 73 shares during the last quarter. Klingman & Associates LLC bought a new stake in Illinois Tool Works during the 2nd quarter valued at $212,000. Phoenix Financial Ltd. lifted its holdings in Illinois Tool Works by 24.7% during the 2nd quarter. Phoenix Financial Ltd. now owns 1,322 shares of the industrial products company's stock worth $328,000 after purchasing an additional 262 shares in the last quarter. Bogart Wealth LLC boosted its position in shares of Illinois Tool Works by 26.3% in the second quarter. Bogart Wealth LLC now owns 216 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 45 shares during the period. Finally, Princeton Global Asset Management LLC grew its position in shares of Illinois Tool Works by 41.1% during the 2nd quarter. Princeton Global Asset Management LLC now owns 669 shares of the industrial products company's stock valued at $166,000 after purchasing an additional 195 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

ITW opened at $252.64 on Tuesday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The firm has a market cap of $73.65 billion, a P/E ratio of 22.14, a PEG ratio of 5.52 and a beta of 1.10. The company has a 50 day simple moving average of $260.07 and a two-hundred day simple moving average of $251.13.

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 EPS for the quarter, beating 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 company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $2.54 earnings per share. The firm's revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is 56.44%.

Insiders Place Their Bets

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business's stock in a transaction dated 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ITW. 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. UBS Group boosted their target price 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. Citigroup raised their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company upped their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus raised their price objective 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. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $262.83.

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.

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