AlphaQuest LLC Has $1.64 Million Stock Position in Illinois Tool Works Inc. $ITW

Key Points

• AlphaQuest LLC significantly increased its stake in Illinois Tool Works by 661,300%, bringing its total holdings to 6,614 shares valued at approximately $1.64 million.
• Illinois Tool Works recently announced a quarterly dividend increase from $1.50 to $1.61 per share, representing a 2.4% dividend yield.
• Analysts have mixed views on Illinois Tool Works, with price targets ranging from $220 to $283, while the stock currently has an average rating of "Reduce."

AlphaQuest LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 661,300.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,614 shares of the industrial products company's stock after buying an additional 6,613 shares during the quarter. AlphaQuest LLC's holdings in Illinois Tool Works were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works during the 1st quarter worth about $26,000. Park Square Financial Group LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $35,000. Olde Wealth Management LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $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 worth $52,000 after purchasing an additional 132 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.8%

ITW traded down $2.26 on Thursday, reaching $264.57. 195,137 shares of the company traded hands, compared to its average volume of 1,080,835. The stock's 50 day moving average price is $257.03 and its 200-day moving average price is $250.60. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a market cap of $77.12 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 5.74 and a beta of 1.09. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a $1.61 dividend. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's payout ratio is presently 52.59%.

Insider Buying and Selling

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, with a total value of $210,291.52. Following the completion of the transaction, the director directly owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. UBS Group boosted their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Finally, Citigroup boosted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One 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 company's stock. According to MarketBeat, the company has an average rating of "Reduce" and an average 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.