Illinois Tool Works Inc. $ITW Shares Sold by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. reduced its stake in Illinois Tool Works Inc. by 2.6% during the second quarter, selling 3,351 shares and holding 123,347 shares valued at approximately $30.5 million.
• Illinois Tool Works reported $2.81 earnings per share (EPS) for the last quarter, surpassing estimates and showing a year-on-year revenue increase of 2.3%.
• The company declared a quarterly dividend of $1.61 per share, up from the previous $1.50, representing a yield of 2.6% with a payout ratio of 56.44%.

Asset Management One Co. Ltd. lowered its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,347 shares of the industrial products company's stock after selling 3,351 shares during the period. Asset Management One Co. Ltd.'s holdings in Illinois Tool Works were worth $30,498,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ITW. Bank & Trust Co lifted its position in Illinois Tool Works by 0.4% during the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company's stock worth $2,526,000 after buying an additional 39 shares in the last quarter. TFG Advisers LLC lifted its position in Illinois Tool Works by 0.5% during the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company's stock worth $2,092,000 after buying an additional 42 shares in the last quarter. Freedom Investment Management Inc. lifted its position in Illinois Tool Works by 3.0% during the second quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company's stock worth $357,000 after buying an additional 42 shares in the last quarter. Clearstead Trust LLC raised its position in Illinois Tool Works by 0.9% in the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company's stock valued at $1,180,000 after purchasing an additional 43 shares during the period. Finally, Northern Financial Advisors Inc raised its position in Illinois Tool Works by 1.9% in the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company's stock valued at $582,000 after purchasing an additional 44 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

ITW stock opened at $245.91 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $71.68 billion, a PE ratio of 21.55, a P/E/G ratio of 5.70 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The business's fifty day moving average price is $259.36 and its 200 day moving average price is $251.63.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the business earned $3.91 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, sell-side analysts anticipate 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 was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.61 per share. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works's dividend payout ratio (DPR) is currently 56.44%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company's stock in a transaction dated 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 sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on ITW shares. Weiss Ratings restated a "buy (b)" rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a research report on Thursday, October 2nd. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an "underperform" rating in a research report on Tuesday, August 19th. Citigroup lifted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus lifted their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Two equities research 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. According to data from MarketBeat, Illinois Tool Works has an average rating of "Reduce" and an average price target of $262.83.

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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