Federation des caisses Desjardins du Quebec Buys 1,015 Shares of Illinois Tool Works Inc. $ITW

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Illinois Tool Works Inc. by 3.7%, owning a total of 28,219 shares valued at approximately $6.99 million.
• Illinois Tool Works recently reported quarterly earnings of $2.58 per share, surpassing expectations, with a revenue of $4.05 billion, up 0.6% year-over-year.
• The company announced a quarterly dividend increase to $1.61 per share, providing an annualized yield of 2.5%, with the ex-dividend date on September 30th.

Federation des caisses Desjardins du Quebec boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,219 shares of the industrial products company's stock after buying an additional 1,015 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Illinois Tool Works were worth $6,999,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ITW. Brighton Jones LLC raised its holdings in Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock worth $1,399,000 after purchasing an additional 277 shares during the last quarter. Bison Wealth LLC raised its holdings in Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock worth $901,000 after purchasing an additional 81 shares during the last quarter. Brown Advisory Inc. raised its holdings in Illinois Tool Works by 0.4% during the 4th quarter. Brown Advisory Inc. now owns 86,498 shares of the industrial products company's stock worth $21,933,000 after purchasing an additional 330 shares during the last quarter. Captrust Financial Advisors raised its holdings in Illinois Tool Works by 3.8% during the 4th quarter. Captrust Financial Advisors now owns 41,225 shares of the industrial products company's stock worth $10,453,000 after purchasing an additional 1,521 shares during the last quarter. Finally, BOKF NA raised its holdings in Illinois Tool Works by 0.6% during the 4th quarter. BOKF NA now owns 15,222 shares of the industrial products company's stock worth $3,728,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ITW shares. Wells Fargo & Company raised their price target 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. Barclays raised their price objective 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. Stifel Nicolaus raised their price objective 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. UBS Group raised their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Citigroup upped their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $260.67.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $0.38 during trading on Friday, reaching $266.05. The company's stock had a trading volume of 583,082 shares, compared to its average volume of 829,771. The firm has a market cap of $77.55 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 5.74 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The firm has a 50 day moving average of $259.77 and a 200-day 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.

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 for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The company had revenue of $4.05 billion for 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 firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal 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 issued a $1.61 dividend. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. 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.