Curi RMB Capital LLC Sells 17,970 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Curi RMB Capital LLC reduced its stake in Illinois Tool Works by 26.6%, owning 49,672 shares worth approximately $12.39 million after selling 17,970 shares in Q1.
• Illinois Tool Works has declared a quarterly dividend of $1.61 per share, up from its previous $1.50, with an ex-dividend date set for September 30.
• Analysts have set target prices for Illinois Tool Works shares ranging from $250.00 to $283.00, with a consensus target price of $260.67.

Curi RMB Capital LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 26.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,672 shares of the industrial products company's stock after selling 17,970 shares during the quarter. Curi RMB Capital LLC's holdings in Illinois Tool Works were worth $12,393,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Banque Transatlantique SA acquired a new position in Illinois Tool Works during the first quarter valued at approximately $30,000. Belmont Capital LLC acquired a new position in Illinois Tool Works during the first quarter valued at approximately $367,000. AQR Capital Management LLC boosted its position in Illinois Tool Works by 14.0% during the first quarter. AQR Capital Management LLC now owns 608,498 shares of the industrial products company's stock valued at $148,571,000 after purchasing an additional 74,773 shares during the last quarter. Atalanta Sosnoff Capital LLC boosted its position in Illinois Tool Works by 20.0% during the first quarter. Atalanta Sosnoff Capital LLC now owns 1,283 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 214 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Illinois Tool Works by 13.4% during the first quarter. Advisors Asset Management Inc. now owns 51,334 shares of the industrial products company's stock valued at $12,731,000 after purchasing an additional 6,062 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Illinois Tool Works stock traded up $0.38 during mid-day trading on Friday, reaching $266.05. 583,082 shares of the company were exchanged, compared to its average volume of 829,771. The company has a fifty day simple moving average of $259.77 and a 200-day simple moving average of $250.78. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The firm has a market cap of $77.55 billion, a PE ratio of 23.32, a PEG ratio of 5.74 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company posted $2.54 EPS. The company's revenue for the quarter 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. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal 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 issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.59%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ITW. UBS Group raised their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Wells Fargo & Company raised their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Citigroup raised their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an "underperform" rating in a research note on Tuesday, August 19th. One investment 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, the company has a consensus 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.