Mather Group LLC. Increases Stake in Illinois Tool Works Inc. $ITW

Key Points

• Mather Group LLC increased its stake in Illinois Tool Works by 3.5% during the second quarter, holding a total of 62,113 shares valued at approximately $15.36 million.
• Illinois Tool Works recently announced a quarterly dividend of $1.61 per share, which represents a 7.33% increase from the previous dividend, resulting in an annualized yield of 2.5%.
• Analysts have updated their price targets for Illinois Tool Works, with estimates ranging from $243 to $283, while the stock currently trades around $260.98.

Mather Group LLC. increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,113 shares of the industrial products company's stock after acquiring an additional 2,081 shares during the period. Mather Group LLC.'s holdings in Illinois Tool Works were worth $15,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after buying an additional 277 shares during the period. Bison Wealth LLC grew 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 purchasing an additional 81 shares during the period. Two Sigma Investments LP raised its stake in shares of Illinois Tool Works by 23.4% in the 4th quarter. Two Sigma Investments LP now owns 6,214 shares of the industrial products company's stock valued at $1,576,000 after acquiring an additional 1,180 shares during the period. Toronto Dominion Bank raised its position in Illinois Tool Works by 7.4% in the fourth quarter. Toronto Dominion Bank now owns 130,387 shares of the industrial products company's stock valued at $33,061,000 after purchasing an additional 8,975 shares during the period. Finally, Ascent Group LLC boosted its holdings in Illinois Tool Works by 15.6% in the 4th quarter. Ascent Group LLC now owns 4,739 shares of the industrial products company's stock worth $1,202,000 after acquiring an additional 640 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $260.98 on Wednesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The company has a market capitalization of $76.08 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 5.63 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The business has a 50 day simple moving average of $261.24 and a 200 day simple moving average of $250.76.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.5%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is 52.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ITW shares. 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 report on Thursday, July 31st. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Finally, Truist Financial lowered Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price on the stock. in a report on Thursday, July 31st. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the 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.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the sale, the chief accounting officer owned 10,314 shares of the company's stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.

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