Northwestern Mutual Wealth Management Co. Has $6 Million Stake in Illinois Tool Works Inc. $ITW

Key Points

• Northwestern Mutual Wealth Management Co. reduced its stake in Illinois Tool Works by 5.2%, selling 1,329 shares to hold a total of 24,189 shares worth approximately $5.99 million.
• Illinois Tool Works recently announced an increase in its quarterly dividend from $1.50 to $1.61 per share, representing an annualized dividend of $6.44 and a yield of 2.4%.
• Industry analysts have mixed views on Illinois Tool Works, with updated target prices indicating a consensus rating of "Reduce" and a price target averaging around $260.67.

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,189 shares of the industrial products company's stock after selling 1,329 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Illinois Tool Works were worth $5,999,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Illinois Tool Works by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock worth $627,176,000 after purchasing an additional 11,854 shares during the period. GAMMA Investing LLC boosted its holdings in Illinois Tool Works by 26,372.8% during the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock valued at $5,123,080,000 after acquiring an additional 2,057,872 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Illinois Tool Works by 11.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company's stock valued at $522,110,000 after acquiring an additional 209,671 shares during the period. Invesco Ltd. boosted its holdings in Illinois Tool Works by 4.7% during the first quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock valued at $504,683,000 after acquiring an additional 91,359 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Illinois Tool Works by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company's stock valued at $435,508,000 after acquiring an additional 45,316 shares during the period. Institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ITW shares. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an "underperform" rating in a report on Tuesday, August 19th. Stifel Nicolaus upped their price target 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. 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. Barclays upped their price target 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. Finally, Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $260.67.

Illinois Tool Works Price Performance

ITW traded down $3.54 during midday trading on Tuesday, reaching $261.11. 165,385 shares of the company's stock were exchanged, compared to its average volume of 1,077,781. The firm has a market capitalization of $76.11 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 5.71 and a beta of 1.10. 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 one year low of $214.66 and a one year high of $279.13. The business has a 50-day simple moving average of $258.41 and a two-hundred day simple moving average of $250.64.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly 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 firm 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 company's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $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 predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This is a positive change 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 is 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.