Focus Partners Wealth Has $13.11 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Focus Partners Wealth reduced its stake in Illinois Tool Works by 3.4%, now owning 52,848 shares worth approximately $13.11 million according to the latest SEC filing.
• Illinois Tool Works reported quarterly earnings of $2.58 per share, exceeding analyst expectations, with a revenue of $4.05 billion.
• The company increased its quarterly dividend to $1.61, marking a rise from the previous dividend of $1.50, translating to an annual yield of 2.4%.

Focus Partners Wealth lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,848 shares of the industrial products company's stock after selling 1,846 shares during the quarter. Focus Partners Wealth's holdings in Illinois Tool Works were worth $13,107,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised 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 acquiring an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Illinois Tool Works by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company's stock valued at $513,994,000 after purchasing an additional 13,354 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Illinois Tool Works by 26,372.8% in the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Illinois Tool Works by 11.3% during 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 purchasing an additional 209,671 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Illinois Tool Works by 4.7% during the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock valued at $504,683,000 after purchasing an additional 91,359 shares during the period. Institutional investors own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ITW. Citigroup lifted their price target on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Wells Fargo & Company boosted 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. Stifel Nicolaus increased their price target 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. UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report 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 note on Tuesday, August 19th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $260.67.

Illinois Tool Works Stock Performance

ITW traded up $1.30 during trading hours on Thursday, reaching $263.78. The company's stock had a trading volume of 206,085 shares, compared to its average volume of 1,058,141. The firm has a market cap of $76.89 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10. 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 company's 50-day moving average is $261.00 and its 200-day moving average is $250.90. 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 issued its quarterly earnings data 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 firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the firm posted $2.54 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders 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 yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is 52.59%.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction that occurred 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 directly owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by company insiders.

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.