Illinois Tool Works Inc. $ITW Shares Bought by Groupe la Francaise

Key Points

• Groupe la Francaise increased its stake in Illinois Tool Works Inc. by 11.6%, owning a total of 23,541 shares valued at approximately $5.93 million.
• Illinois Tool Works is increasing its quarterly dividend from $1.50 to $1.61 per share, which represents an annualized dividend of $6.44 with a yield of 2.4%.
• The company's recent earnings report showed earnings per share of $2.58, exceeding estimates, and revenue of $4.05 billion, which was also above the consensus forecast.

Groupe la Francaise raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,541 shares of the industrial products company's stock after purchasing an additional 2,453 shares during the quarter. Groupe la Francaise's holdings in Illinois Tool Works were worth $5,931,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock worth $1,399,000 after acquiring an additional 277 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Illinois Tool Works by 4.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 10,372 shares of the industrial products company's stock worth $2,630,000 after purchasing an additional 450 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Illinois Tool Works by 5.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 8,087 shares of the industrial products company's stock worth $2,050,000 after purchasing an additional 439 shares during the period. Johnson Financial Group Inc. raised its position in Illinois Tool Works by 71.4% during the 4th quarter. Johnson Financial Group Inc. now owns 1,361 shares of the industrial products company's stock valued at $353,000 after purchasing an additional 567 shares in the last quarter. Finally, Berger Financial Group Inc purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth $262,000. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. acquired 872 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was purchased at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the acquisition, the director owned 122,884 shares of the company's stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

ITW stock traded up $0.69 during mid-day trading on Wednesday, reaching $266.93. The company's stock had a trading volume of 659,221 shares, compared to its average volume of 1,086,380. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The company's 50 day moving average is $256.51 and its two-hundred day moving average is $250.48. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The stock has a market cap of $77.81 billion, a PE ratio of 23.39, a P/E/G ratio of 5.75 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted 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. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business earned $2.54 earnings per share. 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. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current 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 dividend of $1.61 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is presently 52.59%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ITW shares. UBS Group raised their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Robert W. Baird boosted their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Wells Fargo & Company increased 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 note on Thursday, July 31st. Stifel Nicolaus boosted their price objective 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. Finally, Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a report on Wednesday, May 7th. One research analyst has 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. According to MarketBeat.com, the company has an average rating of "Reduce" and an average target price 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.