Fenimore Asset Management Inc Purchases 2,289 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Fenimore Asset Management Inc increased its stake in Illinois Tool Works by 0.6%, owning a total of 393,529 shares valued at approximately $97.3 million.
• Illinois Tool Works recently announced a quarterly dividend increase from $1.50 to $1.61, yielding about 2.5% annually.
• The company reported earnings of $2.58 per share for the last quarter, beating expectations, and raised its FY 2025 earnings guidance to between $10.350 and $10.550 EPS.

Fenimore Asset Management Inc lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 393,529 shares of the industrial products company's stock after purchasing an additional 2,289 shares during the period. Illinois Tool Works accounts for approximately 1.9% of Fenimore Asset Management Inc's portfolio, making the stock its 23rd largest position. Fenimore Asset Management Inc owned 0.13% of Illinois Tool Works worth $97,300,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works during the first quarter valued at about $26,000. SOA Wealth Advisors LLC. boosted its holdings in shares of Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company's stock valued at $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank purchased a new position in Illinois Tool Works during the first quarter valued at $29,000. 1248 Management LLC bought a new position in shares of Illinois Tool Works in the first quarter worth approximately $30,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Illinois Tool Works during the first quarter valued at $30,000. Institutional investors own 79.77% of the company's stock.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the sale, the chief accounting officer owned 10,314 shares of the company's stock, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Down 0.2%

Shares of ITW stock opened at $260.19 on Monday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock has a fifty day simple moving average of $261.43 and a two-hundred day simple moving average of $250.99. The firm has a market capitalization of $75.85 billion, a PE ratio of 22.80, a PEG ratio of 5.75 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.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business's revenue was up .6% on a year-over-year basis. During the same period 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. On average, analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced 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. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 56.44%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ITW shares. Barclays increased their price objective 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a "hold" rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Illinois Tool Works in a report on Saturday, September 27th. Finally, Stifel Nicolaus lifted their target price 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 analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $261.58.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.