Hsbc Holdings PLC Acquires 38,449 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Hsbc Holdings PLC increased its stake in Illinois Tool Works Inc. by 6.4%, owning a total of 643,907 shares valued at approximately $159.37 million after purchasing an additional 38,449 shares.
• Analysts have raised their price targets for Illinois Tool Works, with updates from firms like Barclays and Citigroup setting new prices between $243.00 and $265.00.
• The company recently announced a quarterly dividend of $1.61 per share, up from the previous $1.50, representing an annual yield of 2.4%.

Hsbc Holdings PLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 643,907 shares of the industrial products company's stock after purchasing an additional 38,449 shares during the quarter. Hsbc Holdings PLC owned about 0.22% of Illinois Tool Works worth $159,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITW. Brighton Jones LLC raised its stake in Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after purchasing an additional 277 shares during the period. Jump Financial LLC raised its stake in Illinois Tool Works by 132.2% during the 4th quarter. Jump Financial LLC now owns 2,006 shares of the industrial products company's stock valued at $509,000 after purchasing an additional 1,142 shares during the period. Natixis raised its stake in Illinois Tool Works by 61.2% during the 4th quarter. Natixis now owns 6,866 shares of the industrial products company's stock valued at $1,741,000 after purchasing an additional 2,607 shares during the period. MML Investors Services LLC raised its stake in Illinois Tool Works by 3.5% during the 4th quarter. MML Investors Services LLC now owns 62,322 shares of the industrial products company's stock valued at $15,802,000 after purchasing an additional 2,093 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Illinois Tool Works by 89.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,957 shares of the industrial products company's stock valued at $3,539,000 after purchasing an additional 6,589 shares during the period. Institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays lifted their target price on Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Stifel Nicolaus raised their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company raised their price target on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Finally, Robert W. Baird raised their price target on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $260.67.

Illinois Tool Works Stock Performance

NYSE ITW opened at $263.7910 on Wednesday. The company has a market cap of $76.90 billion, a P/E ratio of 23.12, a P/E/G ratio of 5.59 and a beta of 1.09. 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 business's 50 day moving average price is $254.38 and its 200-day moving average price is $250.13. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its 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 firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio is presently 52.59%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were purchased at an average price of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director owned 122,884 shares in the company, valued at $29,634,705.44. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.88% of the company's stock.

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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