Nvest Financial LLC Invests $277,000 in Illinois Tool Works Inc. $ITW

Key Points

• Nvest Financial LLC has invested approximately $277,000 in 1,120 shares of Illinois Tool Works Inc. during the second quarter, indicating strong investor interest in the company.
• Illinois Tool Works recently increased its quarterly dividend to $1.61 per share, up from the previous $1.50, showcasing a commitment to returning value to shareholders.
• The company's latest quarterly earnings report showed $2.58 EPS, surpassing analyst expectations, and a modest revenue growth year-over-year of 0.6%.

Nvest Financial LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,120 shares of the industrial products company's stock, valued at approximately $277,000.

A number of other hedge funds have also bought and sold shares of the company. Mutual Advisors LLC grew its stake in Illinois Tool Works by 8.1% in the second quarter. Mutual Advisors LLC now owns 2,324 shares of the industrial products company's stock worth $608,000 after purchasing an additional 175 shares in the last quarter. Generali Asset Management SPA SGR grew its stake in Illinois Tool Works by 126.0% in the second quarter. Generali Asset Management SPA SGR now owns 41,133 shares of the industrial products company's stock worth $10,170,000 after purchasing an additional 22,930 shares in the last quarter. Private Wealth Asset Management LLC grew its stake in Illinois Tool Works by 3.1% in the second quarter. Private Wealth Asset Management LLC now owns 2,397 shares of the industrial products company's stock worth $593,000 after purchasing an additional 72 shares in the last quarter. Cypress Wealth Services LLC acquired a new position in Illinois Tool Works in the second quarter worth about $225,000. Finally, Sagespring Wealth Partners LLC grew its stake in Illinois Tool Works by 5.4% in the second quarter. Sagespring Wealth Partners LLC now owns 4,736 shares of the industrial products company's stock worth $1,171,000 after purchasing an additional 241 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.88% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ITW shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Truist Financial lifted their target price on Illinois Tool Works from $283.00 to $298.00 and gave the company a "hold" rating in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their target price on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Finally, Citigroup lifted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $262.83.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $247.42 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The business has a 50 day moving average of $260.50 and a two-hundred day moving average of $250.87. The company has a market cap of $72.12 billion, a P/E ratio of 21.68, a PEG ratio of 5.49 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

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

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were 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 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works's payout ratio is presently 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.

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