Illinois Tool Works Inc. $ITW Stock Holdings Lowered by M. Kraus & Co

Key Points

• M. Kraus & Co has reduced its holdings in Illinois Tool Works Inc. by 2.6%, owning 39,647 shares valued at $9.8 million, making it the firm's 13th largest investment.
• Illinois Tool Works recently reported quarterly earnings of $2.58 per share, slightly exceeding analyst estimates, with revenue of $4.05 billion, a year-over-year increase of 0.6%.
• The company announced an increase in its quarterly dividend from $1.50 to $1.61 per share, representing an annual yield of 2.6% and a payout ratio of 56.44%.

M. Kraus & Co lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 39,647 shares of the industrial products company's stock after selling 1,067 shares during the period. Illinois Tool Works accounts for 2.9% of M. Kraus & Co's portfolio, making the stock its 13th biggest holding. M. Kraus & Co's holdings in Illinois Tool Works were worth $9,803,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. OneAscent Financial Services LLC lifted its holdings in Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after purchasing an additional 341 shares during the period. Modern Wealth Management LLC lifted its holdings in Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock worth $210,000 after purchasing an additional 65 shares during the period. Sowell Financial Services LLC acquired a new stake in Illinois Tool Works in the first quarter worth about $946,000. Advisory Alpha LLC acquired a new stake in Illinois Tool Works in the first quarter worth about $259,000. Finally, Global X Japan Co. Ltd. lifted its holdings in Illinois Tool Works by 8.3% in the second quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company's stock worth $624,000 after purchasing an additional 193 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Down 1.8%

Shares of ITW stock opened at $248.19 on Friday. The stock has a market cap of $72.35 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 5.59 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The stock has a fifty day moving average price of $261.18 and a 200 day moving average price of $251.04. 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 released its quarterly earnings data 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. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company posted $2.54 earnings per share. The business's revenue for the quarter was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is currently 56.44%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price target on shares of Illinois Tool Works from $283.00 to $298.00 and gave the company a "hold" rating in a report on Wednesday. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an "underperform" rating in a research report on Tuesday, August 19th. UBS Group raised their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.