Illinois Tool Works Inc. $ITW Shares Bought by Focus Financial Network Inc.

Key Points

• Focus Financial Network Inc. has increased its holdings in Illinois Tool Works Inc. by 42.6%, owning 3,377 shares valued at approximately $835,000.
• Illinois Tool Works has recently declared a quarterly dividend of $1.61 per share, an increase from the previous dividend of $1.50, resulting in an annualized yield of 2.5%.
• In its latest earnings report, Illinois Tool Works exceeded analysts' expectations with a net revenue of $4.05 billion and earnings per share of $2.58, slightly above the forecast of $2.56.

Focus Financial Network Inc. raised its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 42.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,377 shares of the industrial products company's stock after purchasing an additional 1,009 shares during the quarter. Focus Financial Network Inc.'s holdings in Illinois Tool Works were worth $835,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in Illinois Tool Works in the fourth quarter valued at $26,000. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works in the first quarter valued at $26,000. Saudi Central Bank acquired a new position in Illinois Tool Works in the first quarter valued at $29,000. 1248 Management LLC acquired a new position in Illinois Tool Works in the first quarter valued at $30,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Illinois Tool Works in the first quarter valued at about $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares of the company's stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $261.91 on Friday. The firm has a 50 day simple moving average of $261.08 and a 200-day simple moving average of $250.95. 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 $76.35 billion, a PE ratio of 22.95, a P/E/G ratio of 5.69 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business posted $2.54 earnings per share. The company's revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS 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. Investors of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.5%. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.59%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price on the stock. in a report on Thursday, July 31st. UBS Group lifted their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Stifel Nicolaus boosted their price objective 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. Finally, Citigroup boosted their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. 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's stock. According to MarketBeat, the company presently 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.

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