EP Wealth Advisors LLC Buys 1,180 Shares of Illinois Tool Works Inc. $ITW

Key Points

• EP Wealth Advisors LLC increased its holdings in Illinois Tool Works Inc. by 20.6% during the first quarter, owning 6,898 shares valued at approximately $1.71 million.
• Illinois Tool Works announced a quarterly dividend of $1.61, reflecting an increase from the previous dividend of $1.50, with an annualized yield of 2.4%.
• Analysts have mixed views on Illinois Tool Works, with a recent downgrade from Truist Financial and target price adjustments ranging from $250.00 to $283.00 across various firms.

EP Wealth Advisors LLC increased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 20.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,898 shares of the industrial products company's stock after buying an additional 1,180 shares during the period. EP Wealth Advisors LLC's holdings in Illinois Tool Works were worth $1,711,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Illinois Tool Works by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock worth $627,176,000 after buying an additional 11,854 shares during the period. GAMMA Investing LLC boosted its holdings in Illinois Tool Works by 26,372.8% in the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after buying an additional 2,057,872 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Illinois Tool Works by 11.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company's stock worth $522,110,000 after buying an additional 209,671 shares during the period. Invesco Ltd. boosted its holdings in Illinois Tool Works by 4.7% in the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock worth $504,683,000 after buying an additional 91,359 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Illinois Tool Works by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company's stock worth $435,508,000 after buying an additional 45,316 shares during the period. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $0.38 during mid-day trading on Friday, hitting $266.05. 583,082 shares of the company's stock traded hands, compared to its average volume of 831,862. The company's 50-day moving average is $259.77 and its two-hundred day moving average is $250.78. 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 company has a market capitalization of $77.55 billion, a P/E ratio of 23.32, a PEG ratio of 5.74 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its 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 net margin of 21.31% and a return on equity of 90.89%. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the prior year, the company earned $2.54 EPS. The business'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. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $1.61 dividend. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works's dividend payout ratio is currently 52.59%.

Analysts Set New Price Targets

Several analysts have commented on ITW shares. Barclays boosted their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Citigroup boosted their price target on shares of 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 boosted their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Wells Fargo & Company boosted 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. Finally, Evercore ISI set a $265.00 target price on shares of 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 company. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $260.67.

About Illinois Tool Works

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.