Guggenheim Capital LLC Has $16.68 Million Stock Position in Illinois Tool Works Inc. $ITW

Key Points

• Guggenheim Capital LLC reduced its stake in Illinois Tool Works Inc. (ITW) by 5.4% in the first quarter, now owning 67,250 shares valued at approximately $16.7 million.
• Multiple institutional investors, including GAMMA Investing LLC and Auto Owners Insurance Co, significantly increased their holdings in Illinois Tool Works, with GAMMA boosting its stake by an astonishing 26,372.8%.
• Illinois Tool Works recently raised its quarterly dividend to $1.61, up from $1.50, representing an annualized yield of 2.4%.

Guggenheim Capital LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,250 shares of the industrial products company's stock after selling 3,830 shares during the quarter. Guggenheim Capital LLC's holdings in Illinois Tool Works were worth $16,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ITW. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works in the 1st quarter valued at about $26,000. Park Square Financial Group LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $35,000. Olde Wealth Management LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter valued at about $49,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Illinois Tool Works by 167.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 132 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW traded down $1.02 during mid-day trading on Monday, hitting $264.73. 963,377 shares of the company's stock were exchanged, compared to its average volume of 912,597. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The stock's 50-day simple moving average is $258.01 and its 200-day simple moving average is $250.59. The firm has a market cap of $77.17 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 5.71 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion for 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 revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm 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 expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given 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 positive change from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio (DPR) is 56.44%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ITW. 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. Barclays increased their price target 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 increased their price target 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. Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of "Reduce" and an average price target of $260.67.

Illinois Tool Works Company 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.