Integrity Alliance LLC. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 142.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,031 shares of the industrial products company's stock after acquiring an additional 8,244 shares during the period. Integrity Alliance LLC.'s holdings in Illinois Tool Works were worth $3,480,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Illinois Tool Works by 26,372.8% in the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock valued at $5,123,080,000 after purchasing an additional 2,057,872 shares in the last quarter. Auto Owners Insurance Co boosted its stake in Illinois Tool Works by 55,978.4% during the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company's stock worth $354,654,000 after buying an additional 1,427,450 shares during the last quarter. Nuveen LLC purchased a new stake in Illinois Tool Works in the 1st quarter valued at $293,928,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Illinois Tool Works by 11.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company's stock worth $522,110,000 after acquiring an additional 209,671 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $47,254,000. 79.77% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on ITW shares. UBS Group upped their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Citigroup lifted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Barclays increased their price objective on 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. Finally, Truist Financial downgraded Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price on the stock. in a research report on Thursday, July 31st. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $260.67.
Check Out Our Latest Research Report on Illinois Tool Works
Illinois Tool Works Stock Performance
Shares of ITW stock opened at $262.59 on Thursday. The firm has a 50 day moving average of $260.42 and a two-hundred day moving average of $250.85. The stock has a market capitalization of $76.55 billion, a PE ratio of 23.01, a P/E/G ratio of 5.65 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.
Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same period last year, the firm earned $2.54 earnings per share. The company'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. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.
Illinois Tool Works Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is presently 52.59%.
About Illinois Tool Works
(
Free Report)
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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