Pensionfund Sabic Has $1.56 Million Stake in Illinois Tool Works Inc. $ITW

Key Points

• Pensionfund Sabic reduced its holdings in Illinois Tool Works Inc. (ITW) by 14.9% in the first quarter, now owning 6,300 shares valued at approximately $1.56 million.
• Several institutional investors, including Charles Schwab and UBS AM, have also adjusted their positions, with GAMMA Investing LLC increasing its holdings by an astonishing 26,372.8%.
• Illinois Tool Works has announced a quarterly dividend increase to $1.61 per share, reflecting a 2.4% dividend yield, which will be paid to stockholders on October 10th.

Pensionfund Sabic decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,300 shares of the industrial products company's stock after selling 1,100 shares during the period. Pensionfund Sabic's holdings in Illinois Tool Works were worth $1,562,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sivia Capital Partners LLC bought a new position in shares of Illinois Tool Works in the first quarter valued at $214,000. OneAscent Financial Services LLC increased its holdings in shares of Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock valued at $416,000 after buying an additional 341 shares in the last quarter. Modern Wealth Management LLC increased its holdings in shares of Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock valued at $210,000 after buying an additional 65 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Illinois Tool Works during the 1st quarter valued at $946,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Illinois Tool Works by 12.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock valued at $10,242,000 after purchasing an additional 4,560 shares during the period. Institutional investors own 79.77% of the company's stock.

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares of the company's stock, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock traded up $1.48 during trading on Thursday, reaching $263.96. The company's stock had a trading volume of 239,792 shares, compared to its average volume of 1,058,281. The business's fifty day moving average price is $261.00 and its 200-day moving average price is $250.90. The firm has a market cap of $76.94 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Investors of record on Tuesday, September 30th will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.4%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.59%.

Analysts Set New Price Targets

Several brokerages have issued reports on ITW. UBS Group boosted their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Citigroup boosted their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Stifel Nicolaus boosted 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. Finally, Truist Financial cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price target on the stock. in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Reduce" and a consensus 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.