MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Grows Position in Illinois Tool Works Inc. $ITW

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Illinois Tool Works Inc. by 7,987.7% during Q2, owning 47,960 shares valued at approximately $11.86 million.
• Illinois Tool Works recently announced a $1.61 quarterly dividend, up from the previous quarter's $1.50, with a dividend yield of 2.5%.
• Illinois Tool Works exceeded analyst expectations in its latest earnings report, posting an EPS of $2.58 and revenue of $4.05 billion for the quarter.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7,987.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,960 shares of the industrial products company's stock after purchasing an additional 47,367 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Illinois Tool Works were worth $11,858,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in Illinois Tool Works during the 4th quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new position in Illinois Tool Works during the 1st quarter worth approximately $26,000. Saudi Central Bank bought a new position in Illinois Tool Works during the 1st quarter worth approximately $29,000. 1248 Management LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $30,000. Finally, Banque Transatlantique SA bought a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $30,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.6%

Shares of NYSE:ITW opened at $259.61 on Thursday. The stock has a fifty day simple moving average of $261.30 and a two-hundred day simple moving average of $250.82. The stock has a market capitalization of $75.68 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 5.63 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, research 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 firm 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 dividend on an annualized basis and a dividend yield of 2.5%. 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 is 52.59%.

Insider Activity at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares of the company's stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.88% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ITW shares. Citigroup lifted their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Wells Fargo & Company lifted their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Barclays raised their target price on Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. UBS Group raised their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus raised their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Reduce" and an average price target 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.

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