Illinois Tool Works Inc. $ITW Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its position in Illinois Tool Works by 5.5% during the first quarter, acquiring an additional 10,222 shares and bringing its total ownership to approximately $48.7 million.
• Illinois Tool Works recently announced a quarterly dividend increase, raising it from $1.50 to $1.61 per share, with a payout date set for October 10th.
• The company's stock is currently trading at $265.65 and has a market capitalization of $77.44 billion, with an expected earnings per share (EPS) of $10.39 for the current fiscal year.

NewEdge Advisors LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 196,476 shares of the industrial products company's stock after purchasing an additional 10,222 shares during the period. NewEdge Advisors LLC owned about 0.07% of Illinois Tool Works worth $48,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Ameriflex Group Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Illinois Tool Works during the first quarter worth about $26,000. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works during the first quarter worth about $29,000. 1248 Management LLC acquired a new stake in shares of Illinois Tool Works during the first quarter worth about $30,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Illinois Tool Works during the first quarter worth about $30,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $0.38 during midday trading on Friday, reaching $266.05. 583,082 shares of the company traded hands, compared to its average volume of 831,862. The firm's 50 day simple moving average is $259.77 and its two-hundred day simple moving average is $250.68. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. 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 firm has a market cap of $77.55 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 5.74 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted 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. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm earned $2.54 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is 52.59%.

Analysts Set New Price Targets

ITW has been the topic of a number of research reports. UBS Group raised their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Stifel Nicolaus raised their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an "underperform" rating in a report on Tuesday, August 19th. Finally, Wells Fargo & Company lifted their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. One investment 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 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.