InvesTrust Lowers Stock Position in Illinois Tool Works Inc. $ITW

Key Points

• InvesTrust has reduced its holdings in Illinois Tool Works by 60.6%, now owning 9,473 shares after selling 14,568 shares in the second quarter.
• Illinois Tool Works recently declared a quarterly dividend of $1.61 per share, an increase from its previous dividend of $1.50, reflecting a 2.4% yield for investors.
• Multiple analysts have adjusted their price targets for Illinois Tool Works, with a consensus rating of "Reduce" and an average target of $260.67.

InvesTrust trimmed its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 60.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,473 shares of the industrial products company's stock after selling 14,568 shares during the period. InvesTrust's holdings in Illinois Tool Works were worth $2,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new stake in Illinois Tool Works in the first quarter valued at approximately $26,000. Saudi Central Bank acquired a new stake in Illinois Tool Works in the first quarter valued at approximately $29,000. 1248 Management LLC acquired a new stake in Illinois Tool Works in the first quarter valued at approximately $30,000. Finally, Banque Transatlantique SA acquired a new stake in Illinois Tool Works in the first quarter valued at approximately $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Truist Financial cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price target for the company. in a report on Thursday, July 31st. UBS Group raised their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Citigroup raised their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, 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. One research 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's stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Reduce" and an average price target of $260.67.

Illinois Tool Works Stock Down 1.1%

NYSE:ITW opened at $263.41 on Friday. The firm has a market capitalization of $76.78 billion, a P/E ratio of 23.09, a PEG ratio of 5.75 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company's fifty day moving average price is $260.68 and its 200-day moving average price is $250.88. 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 for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company 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 a boost from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is 52.59%.

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.

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