Johnson Investment Counsel Inc. Increases Stock Position in Illinois Tool Works Inc. $ITW

Key Points

• Johnson Investment Counsel Inc. increased its stake in Illinois Tool Works by 0.7%, owning 320,292 shares worth approximately $79.2 million as of its latest SEC filing.
• Institutional investors collectively own 79.77% of Illinois Tool Works, with notable increases in holdings from firms like Invesco Ltd. and Charles Schwab.
• Illinois Tool Works raised its quarterly dividend to $1.61 per share, reflecting an annualized dividend of $6.44 and a dividend yield of 2.6%.

Johnson Investment Counsel Inc. raised its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,292 shares of the industrial products company's stock after purchasing an additional 2,088 shares during the quarter. Johnson Investment Counsel Inc. owned 0.11% of Illinois Tool Works worth $79,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ITW. Charles Schwab Investment Management Inc. lifted its position in shares of Illinois Tool Works by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock valued at $627,176,000 after acquiring an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Illinois Tool Works by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company's stock valued at $513,994,000 after acquiring an additional 13,354 shares during the period. Invesco Ltd. lifted its position in shares of Illinois Tool Works by 4.7% during the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock valued at $504,683,000 after acquiring an additional 91,359 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Illinois Tool Works by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company's stock valued at $435,508,000 after acquiring an additional 45,316 shares during the period. Finally, Amundi lifted its position in shares of Illinois Tool Works by 1.1% during the 1st quarter. Amundi now owns 1,599,648 shares of the industrial products company's stock valued at $383,828,000 after acquiring an additional 17,119 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly owned 10,314 shares of the company's stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ITW. Stifel Nicolaus lifted their price target 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. UBS Group lifted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. Truist Financial lifted their price objective on Illinois Tool Works from $283.00 to $298.00 and gave the stock a "hold" rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the stock a "hold" rating in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $262.83.

Illinois Tool Works Trading Down 1.4%

Shares of ITW opened at $244.79 on Friday. The stock has a fifty day moving average of $261.04 and a two-hundred day moving average of $250.93. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The company has a market capitalization of $71.36 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 5.41 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

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 for the quarter, beating the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.Illinois Tool Works's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

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

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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