Dynamic Technology Lab Private Ltd Buys Shares of 4,372 Illinois Tool Works Inc. $ITW

Key Points

• Dynamic Technology Lab Private Ltd made a new investment of approximately $1.08 million in Illinois Tool Works Inc., acquiring 4,372 shares during the first quarter.
• Multiple institutional investors have increased their stakes in Illinois Tool Works, with hedge funds owning 79.77% of the company's stock.
• Illinois Tool Works recently increased its quarterly dividend to $1.61 per share, reflecting a substantial rise from the previous dividend of $1.50.

Dynamic Technology Lab Private Ltd bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,372 shares of the industrial products company's stock, valued at approximately $1,084,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Trust Co of the South boosted its position in shares of Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock worth $367,000 after acquiring an additional 42 shares during the last quarter. Clearstead Trust LLC raised its stake in Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company's stock valued at $1,180,000 after purchasing an additional 43 shares in the last quarter. Northern Financial Advisors Inc raised its stake in Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company's stock valued at $582,000 after purchasing an additional 44 shares in the last quarter. Integrated Advisors Network LLC raised its stake in Illinois Tool Works by 0.8% during the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after purchasing an additional 45 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its stake in Illinois Tool Works by 3.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock valued at $355,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Down 0.8%

ITW stock traded down $2.18 during trading on Friday, hitting $264.19. The company had a trading volume of 370,059 shares, compared to its average volume of 1,064,615. The firm has a market capitalization of $77.01 billion, a P/E ratio of 23.14, a PEG ratio of 5.66 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a 50 day simple moving average of $260.58 and a 200-day simple moving average of $250.89. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

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. As a group, research 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 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 52.59%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group boosted their price objective 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. Truist Financial cut Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective on the stock. in a research note on Thursday, July 31st. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Citigroup upped their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, 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, August 19th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $260.67.

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.