Illinois Tool Works Inc. $ITW Shares Acquired by Valeo Financial Advisors LLC

Key Points

• Valeo Financial Advisors LLC significantly increased its stake in Illinois Tool Works Inc. by 136.5% in the second quarter, acquiring a total of 7,365 shares valued at approximately $1.82 million.
• Research analysts have raised their price targets for Illinois Tool Works, with target prices ranging from $255.00 to $268.00, while the company has an average rating of "Reduce" and a consensus target price of $261.58.
• Illinois Tool Works declared a quarterly dividend of $1.61 per share, reflecting an increase from its previous dividend and a dividend yield of 2.5%, with a payout ratio of 56.44%.

Valeo Financial Advisors LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 136.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,365 shares of the industrial products company's stock after buying an additional 4,251 shares during the period. Valeo Financial Advisors LLC's holdings in Illinois Tool Works were worth $1,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ITW. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $26,000. SOA Wealth Advisors LLC. lifted its position in shares of Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company's stock valued at $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $29,000. 1248 Management LLC purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $30,000. Finally, Banque Transatlantique SA purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ITW shares. UBS Group increased their target price 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. Deutsche Bank Aktiengesellschaft raised their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a report on Thursday, October 2nd. 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 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 report on Monday, July 14th. Finally, 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 report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $261.58.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Down 0.5%

NYSE ITW opened at $258.76 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The business's fifty day simple moving average is $261.41 and its 200-day simple moving average is $251.05. The firm has a market cap of $75.43 billion, a PE ratio of 22.68, a P/E/G ratio of 5.75 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly 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. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm earned $2.54 EPS. The company's quarterly revenue 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 analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued 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 2.5%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is presently 56.44%.

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.

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