Illinois Tool Works Inc. $ITW Shares Bought by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Illinois Tool Works by 24.1%, now holding 44,225 shares valued at approximately $10.94 million.
• Multiple institutional investors, including Auto Owners Insurance Co and Citigroup, have significantly raised their holdings, with institutional investors now owning 79.77% of the company's stock.
• Illinois Tool Works declared a quarterly dividend of $1.61 per share, up from its previous dividend of $1.50, solidifying a dividend yield of 2.6%.

Vanguard Personalized Indexing Management LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 24.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 44,225 shares of the industrial products company's stock after buying an additional 8,576 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Illinois Tool Works were worth $10,938,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ITW. Auto Owners Insurance Co increased its stake in Illinois Tool Works by 55,978.4% in the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company's stock valued at $354,654,000 after buying an additional 1,427,450 shares during the period. Nuveen LLC acquired a new position in Illinois Tool Works in the 1st quarter valued at $293,928,000. JPMorgan Chase & Co. increased its stake in Illinois Tool Works by 14.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company's stock valued at $313,734,000 after buying an additional 160,009 shares during the period. Citigroup Inc. increased its stake in Illinois Tool Works by 50.5% in the 1st quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company's stock valued at $92,020,000 after buying an additional 124,443 shares during the period. Finally, Aberdeen Group plc increased its stake in Illinois Tool Works by 118.7% in the 1st quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company's stock valued at $54,789,000 after buying an additional 121,141 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value 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. The trade was a 39.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

ITW has been the topic of several recent research reports. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Barclays boosted their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a "hold" rating in a research report on Thursday, October 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Finally, 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 research report on Thursday, July 31st. Two analysts have 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. Based on data from MarketBeat, Illinois Tool Works has an average rating of "Reduce" and a consensus target price of $262.83.

Illinois Tool Works Trading Down 1.4%

NYSE:ITW opened at $244.79 on Monday. The company has a market capitalization of $71.36 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 5.41 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The stock has a fifty day simple moving average of $261.04 and a 200-day simple moving average of $250.93.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion during 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 business's revenue was up .6% on a year-over-year basis. 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. On average, 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 company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.61 per share. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works's dividend payout ratio is presently 56.44%.

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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