The Manufacturers Life Insurance Company Lowers Holdings in Illinois Tool Works Inc. $ITW

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Illinois Tool Works by 5.2%, owning 158,208 shares worth approximately $39.2 million after selling 8,752 shares.
• Illinois Tool Works has increased its quarterly dividend from $1.50 to $1.61, representing an annualized dividend yield of 2.4%.
• The company reported a net revenue of $4.05 billion for the last quarter, exceeding estimates, and set FY 2025 EPS guidance between $10.350-$10.550.

The Manufacturers Life Insurance Company lowered its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,208 shares of the industrial products company's stock after selling 8,752 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Illinois Tool Works worth $39,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sivia Capital Partners LLC purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $214,000. OneAscent Financial Services LLC grew its holdings in Illinois Tool Works by 25.8% in the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after acquiring an additional 341 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Illinois Tool Works by 42.2% in the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock worth $1,450,000 after acquiring an additional 1,698 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Illinois Tool Works in the 1st quarter worth $946,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Illinois Tool Works by 12.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock worth $10,242,000 after acquiring an additional 4,560 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.1%

NYSE ITW traded up $0.38 during trading hours on Friday, reaching $266.05. 583,019 shares of the company's stock traded hands, compared to its average volume of 1,073,260. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The firm has a market cap of $77.55 billion, a PE ratio of 23.32, a PEG ratio of 5.64 and a beta of 1.10. The firm has a 50-day simple moving average of $259.41 and a 200 day simple moving average of $250.84. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15.

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 (EPS) 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 company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period last year, the company posted $2.54 EPS. Illinois Tool Works'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. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm 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 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 yield of 2.4%. Illinois Tool Works's dividend payout ratio is 52.59%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. 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. Stifel Nicolaus raised their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. UBS Group raised their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Barclays raised their price target on Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. One investment analyst has 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 MarketBeat, Illinois Tool Works currently has a consensus rating of "Reduce" and an average price target of $260.67.

About Illinois Tool Works

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.