Northside Capital Management LLC Grows Position in Illinois Tool Works Inc. $ITW

Key Points

• Northside Capital Management LLC increased its stake in Illinois Tool Works by 64.2% during Q2, owning a total of 2,531 shares worth approximately $626,000.
• Illinois Tool Works announced a quarterly dividend increase from $1.50 to $1.61 per share, reflecting a 2.5% yield with an ex-dividend date of September 30th.
• Various analysts have raised their price targets for Illinois Tool Works, with the consensus price target now set at $260.67, and the stock holds an average rating of "Reduce."

Northside Capital Management LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 64.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,531 shares of the industrial products company's stock after purchasing an additional 990 shares during the period. Northside Capital Management LLC's holdings in Illinois Tool Works were worth $626,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in Illinois Tool Works during the 4th quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new stake in Illinois Tool Works during the 1st quarter worth approximately $26,000. Saudi Central Bank purchased a new stake in shares of Illinois Tool Works in the 1st quarter valued at $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works in the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Illinois Tool Works in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of several recent research reports. Wells Fargo & Company upped their price objective 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. Barclays upped their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Truist Financial downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective on the stock. in a report on Thursday, July 31st. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Finally, Citigroup upped their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $260.67.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $260.98 on Wednesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The company has a fifty day moving average of $261.24 and a two-hundred day moving average of $250.76. The stock has a market capitalization of $76.08 billion, a PE ratio of 22.87, a P/E/G ratio of 5.63 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data 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. 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 revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, research analysts forecast 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 dividend of $1.61 per share. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.59%.

About Illinois Tool Works

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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