Jump Financial LLC Acquires 21,928 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Jump Financial LLC significantly increased its stake in Illinois Tool Works by 1,093.1%, acquiring an additional 21,928 shares during Q1, bringing its total to 23,934 shares worth approximately $5.94 million.
• Various hedge funds have recently adjusted their positions in Illinois Tool Works, with GAMMA Investing LLC notably increasing its stake by 26,372.8% to own over 2 million shares valued at about $5.12 billion.
• Analyst outlooks for Illinois Tool Works are mixed, with Bank of America downgrading the stock to "underperform" with a price target of $220, while UBS Group raised its target to $255.

Jump Financial LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1,093.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,934 shares of the industrial products company's stock after purchasing an additional 21,928 shares during the period. Jump Financial LLC's holdings in Illinois Tool Works were worth $5,936,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Northern Trust Corp increased its holdings in Illinois Tool Works by 3.9% in the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after acquiring an additional 508,188 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 buying an additional 11,854 shares in the last quarter. GAMMA Investing LLC increased its stake in Illinois Tool Works by 26,372.8% in the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after acquiring an additional 2,057,872 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Illinois Tool Works by 11.3% during 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 in the last quarter. Finally, Invesco Ltd. boosted 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 last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 872 shares of the stock in a transaction on Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director directly owned 122,884 shares in the company, valued at approximately $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Down 0.4%

Illinois Tool Works stock traded down $1.02 during midday trading on Thursday, reaching $265.81. The stock had a trading volume of 725,255 shares, compared to its average volume of 1,084,186. 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. The firm has a market cap of $77.48 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 5.74 and a beta of 1.09. The company has a fifty day moving average of $257.03 and a 200 day moving average of $250.60.

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, beating the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Shareholders of record on Tuesday, September 30th will be given a $1.61 dividend. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.4%. Illinois Tool Works's dividend payout ratio is presently 52.59%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Stifel Nicolaus upped their target price 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. Barclays lifted their price target 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. Bank of America downgraded Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a research report on Wednesday, May 7th. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an "underperform" rating in a report on Tuesday, August 19th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Illinois Tool Works has a consensus rating of "Reduce" and a consensus target price of $260.67.

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.