GW Henssler & Associates Ltd. Sells 2,956 Shares of Illinois Tool Works Inc. $ITW

Key Points

• GW Henssler & Associates Ltd. reduced its stake in Illinois Tool Works Inc. by 19.6%, owning 12,093 shares valued at approximately $2.99 million after selling 2,956 shares during the first quarter.
• Illinois Tool Works has announced an increase in its quarterly dividend to $1.61, up from the previous $1.50, representing a 2.4% yield based on an annualized payout.
• Analysts have set varied price targets for Illinois Tool Works, with a consensus price target of $260.67, and ratings reflecting a mix of buy, hold, and sell recommendations.

GW Henssler & Associates Ltd. trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 19.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,093 shares of the industrial products company's stock after selling 2,956 shares during the period. GW Henssler & Associates Ltd.'s holdings in Illinois Tool Works were worth $2,999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in shares of Illinois Tool Works by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock valued at $627,176,000 after purchasing an additional 11,854 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Illinois Tool Works by 26,372.8% during the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock valued at $5,123,080,000 after purchasing an additional 2,057,872 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 valued at $522,110,000 after purchasing an additional 209,671 shares in the last quarter. Invesco Ltd. grew its position in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Illinois Tool Works by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company's stock worth $435,508,000 after acquiring an additional 45,316 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.1%

Shares of NYSE ITW traded up $0.38 during midday trading on Friday, hitting $266.05. 583,082 shares of the company traded hands, compared to its average volume of 1,074,614. The firm has a market cap of $77.55 billion, a P/E ratio of 23.32, a P/E/G ratio of 5.64 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. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The stock has a 50-day moving average price of $259.41 and a 200 day moving average price of $250.84.

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 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The business 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 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. As a group, analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. 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%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped 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. Truist Financial lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price for the company. in a research report on Thursday, July 31st. Barclays boosted their price target 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. Citigroup boosted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, UBS Group boosted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Reduce" and a consensus price target of $260.67.

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.