Mn Services Vermogensbeheer B.V. Lowers Stake in Illinois Tool Works Inc. $ITW

Key Points

• Mn Services Vermogensbeheer B.V. has reduced its stake in Illinois Tool Works Inc. by 6.3%, selling 7,000 shares and leaving it with 104,229 shares valued at approximately $25.77 million.
• Illinois Tool Works recently increased its quarterly dividend from $1.50 to $1.61, equating to an annualized dividend yield of 2.4%.
• Wall Street analysts have mixed ratings on Illinois Tool Works, with one buy, eight holds, and three sells, and a consensus price target of $260.67.

Mn Services Vermogensbeheer B.V. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 104,229 shares of the industrial products company's stock after selling 7,000 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Illinois Tool Works were worth $25,771,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ITW. Moller Wealth Partners lifted its stake in Illinois Tool Works by 4.2% during the second quarter. Moller Wealth Partners now owns 1,521 shares of the industrial products company's stock worth $376,000 after purchasing an additional 61 shares during the period. Tompkins Financial Corp lifted its holdings in shares of Illinois Tool Works by 0.7% during the 2nd quarter. Tompkins Financial Corp now owns 9,254 shares of the industrial products company's stock worth $2,288,000 after acquiring an additional 66 shares during the period. Baader Bank Aktiengesellschaft increased its position in Illinois Tool Works by 107.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,911 shares of the industrial products company's stock valued at $453,000 after acquiring an additional 992 shares during the period. Focus Financial Network Inc. increased its position in shares of Illinois Tool Works by 42.6% during the second quarter. Focus Financial Network Inc. now owns 3,377 shares of the industrial products company's stock worth $835,000 after buying an additional 1,009 shares during the period. Finally, Sovran Advisors LLC lifted its stake in shares of Illinois Tool Works by 12.0% in the second quarter. Sovran Advisors LLC now owns 2,736 shares of the industrial products company's stock valued at $706,000 after buying an additional 293 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.3%

NYSE ITW traded down $0.81 during mid-day trading on Monday, hitting $261.05. The company's stock had a trading volume of 134,556 shares, compared to its average volume of 1,060,504. The stock's fifty day simple moving average is $261.08 and its two-hundred day simple moving average is $250.78. 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 capitalization of $76.10 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15.

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, topping analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the business posted $2.54 EPS. Illinois Tool Works's revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a 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 presently 52.59%.

Insider Activity

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the firm's stock in a transaction dated 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 in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Citigroup boosted their price target 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. UBS Group increased their price target 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. Finally, Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of "Reduce" and an average target price of $260.67.

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.