Perbak Capital Partners LLP Lowers Stock Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Perbak Capital Partners LLP reduced its holdings in Illinois Tool Works by 86.5% in Q1, bringing its ownership to 842 shares valued at approximately $209,000.
• Illinois Tool Works recently increased its quarterly dividend to $1.61 per share, reflecting an annualized dividend yield of 2.5%.
• Analysts are divided on ITW's stock, with Bank of America downgrading it to "underperform" while others raised their price targets, resulting in an average target price of $260.67.

Perbak Capital Partners LLP trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 86.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 842 shares of the industrial products company's stock after selling 5,412 shares during the period. Perbak Capital Partners LLP's holdings in Illinois Tool Works were worth $209,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ITW. Ameriflex Group Inc. purchased a new position in Illinois Tool Works in the 4th quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new position in Illinois Tool Works in the 1st quarter worth approximately $26,000. Saudi Central Bank purchased a new position in Illinois Tool Works in the 1st quarter worth approximately $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works in the 1st quarter worth approximately $30,000. Finally, Park Square Financial Group LLC purchased a new position in Illinois Tool Works in the 4th quarter worth approximately $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

ITW stock opened at $262.09 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The stock's fifty day moving average price is $258.74 and its 200-day moving average price is $250.72. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The company has a market cap of $76.40 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 5.71 and a beta of 1.10.

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 analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. 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 firm posted $2.54 EPS. The company'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. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is presently 52.59%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ITW shares. Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a report on Wednesday, May 7th. UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Stifel Nicolaus increased their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Barclays raised their price target on Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Finally, Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. One 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $260.67.

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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