Focus Partners Advisor Solutions LLC Buys 1,104 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Illinois Tool Works by 14.1%, acquiring 1,104 additional shares, bringing its total holdings to 8,944 shares valued at approximately $2.22 million.
• Illinois Tool Works has declared a quarterly dividend of $1.61, reflecting an increase from the previous dividend of $1.50, with an annualized dividend yield of 2.5%.
• Analysts have mixed opinions on Illinois Tool Works, with a consensus rating of "Reduce" and a consensus price target of $260.67, as several brokerages raised their price objectives for the stock.

Focus Partners Advisor Solutions LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 14.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,944 shares of the industrial products company's stock after acquiring an additional 1,104 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Illinois Tool Works were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sivia Capital Partners LLC acquired a new position in Illinois Tool Works in the first quarter valued at approximately $214,000. OneAscent Financial Services LLC lifted its holdings in Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock valued at $416,000 after buying an additional 341 shares during the period. EP Wealth Advisors LLC lifted its holdings in Illinois Tool Works by 42.2% in the fourth quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after buying an additional 1,698 shares during the period. Sowell Financial Services LLC acquired a new position in Illinois Tool Works in the first quarter valued at approximately $946,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Illinois Tool Works by 12.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock valued at $10,242,000 after buying an additional 4,560 shares during the period. 79.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ITW. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Citigroup boosted their price objective 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. Barclays boosted their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Evercore ISI set a $265.00 price objective 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 given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $260.67.

Illinois Tool Works Stock Down 1.0%

Illinois Tool Works stock opened at $262.09 on Wednesday. The stock has a market capitalization of $76.40 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 5.71 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. 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 company has a 50 day moving average of $258.74 and a 200-day moving average of $250.72.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This represents a $6.44 annualized dividend 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 is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is currently 52.59%.

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.

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