Northstar Asset Management Inc. Has $373,000 Stock Position in Illinois Tool Works Inc. $ITW

Key Points

• Northstar Asset Management Inc. reduced its stake in Illinois Tool Works Inc. by 85.6%, owning 1,502 shares after selling 8,907 during the 1st quarter, with holdings valued at $373,000.
• Illinois Tool Works recently announced an increase in its quarterly dividend from $1.50 to $1.61 per share, representing an annualized yield of 2.5%.
• Analysts have a mixed outlook on Illinois Tool Works, with target prices ranging from $250.00 to $283.00, while the stock holds an average rating of "Hold."

Northstar Asset Management Inc. lowered its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 85.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,502 shares of the industrial products company's stock after selling 8,907 shares during the quarter. Northstar Asset Management Inc.'s holdings in Illinois Tool Works were worth $373,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $26,000. Park Square Financial Group LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $35,000. Olde Wealth Management LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $49,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Illinois Tool Works by 167.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company's stock worth $52,000 after buying an additional 132 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ITW shares. Barclays increased their target price on Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Wells Fargo & Company increased their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an "underperform" rating in a report on Tuesday. Stifel Nicolaus increased their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Finally, UBS Group increased their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $260.67.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the stock in a transaction dated Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

ITW traded down $1.8510 during trading on Wednesday, hitting $262.0890. The company's stock had a trading volume of 943,124 shares, compared to its average volume of 1,090,110. The firm's 50 day moving average price is $254.38 and its two-hundred day moving average price is $250.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The stock has a market capitalization of $76.40 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 5.59 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $2.54 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works's payout ratio is 56.44%.

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.