Illinois Tool Works Inc. $ITW Stock Holdings Lessened by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp has significantly reduced its stake in Illinois Tool Works Inc. by 87.9%, now holding only 8,848 shares after selling 64,408 shares in the first quarter.
• Illinois Tool Works reported earnings per share of $2.58 for the latest quarter, exceeding analysts' expectations, and announced an increase in its quarterly dividend to $1.61.
• Several investment firms have updated their price targets for Illinois Tool Works, with UBS and Wells Fargo adjusting theirs to $255.00 and $250.00 respectively, indicating a mixed outlook on the stock.

Jones Financial Companies Lllp lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 87.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,848 shares of the industrial products company's stock after selling 64,408 shares during the period. Jones Financial Companies Lllp's holdings in Illinois Tool Works were worth $2,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Brighton Jones LLC increased its holdings in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock worth $1,399,000 after buying an additional 277 shares during the last quarter. Bison Wealth LLC increased its holdings in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock worth $901,000 after buying an additional 81 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Illinois Tool Works by 82.7% in the 4th quarter. Lazard Asset Management LLC now owns 2,339 shares of the industrial products company's stock valued at $593,000 after purchasing an additional 1,059 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Illinois Tool Works by 1.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,103 shares of the industrial products company's stock valued at $13,718,000 after purchasing an additional 662 shares during the last quarter. Finally, Man Group plc increased its holdings in Illinois Tool Works by 45.1% in the 4th quarter. Man Group plc now owns 35,376 shares of the industrial products company's stock valued at $8,970,000 after purchasing an additional 10,999 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Barclays lifted their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Truist Financial downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price for the company. in a report on Thursday, July 31st. Finally, Wells Fargo & Company raised their price target 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. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $260.67.

Illinois Tool Works Trading Up 1.2%

Shares of Illinois Tool Works stock traded up $3.04 during trading hours on Wednesday, hitting $264.88. The company's stock had a trading volume of 95,526 shares, compared to its average volume of 1,057,986. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The business has a fifty day moving average of $260.95 and a 200 day moving average of $250.82. The company has a market capitalization of $77.21 billion, a PE ratio of 23.22, a P/E/G ratio of 5.69 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 (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. The company had revenue of $4.05 billion during 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 analysts forecast 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 issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio (DPR) is 52.59%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the firm'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 transaction, the chief accounting officer directly owned 10,314 shares of the company's stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.88% of the company's stock.

Illinois Tool Works 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.