Quantbot Technologies LP Invests $741,000 in Illinois Tool Works Inc. $ITW

Key Points

• Quantbot Technologies LP has acquired a new position in Illinois Tool Works Inc., purchasing 2,988 shares valued at approximately $741,000.
• Analysts have mixed ratings on ITW stocks, with target prices ranging from $220.00 to $265.00, and an average target price of $260.67.
• Illinois Tool Works has increased its quarterly dividend from $1.50 to $1.61 per share, representing a yield of 2.4%.

Quantbot Technologies LP bought a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,988 shares of the industrial products company's stock, valued at approximately $741,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in Illinois Tool Works in the fourth quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in Illinois Tool Works in the first quarter valued at about $26,000. Park Square Financial Group LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at about $35,000. Olde Wealth Management LLC bought a new stake in Illinois Tool Works in the first quarter valued at about $49,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Illinois Tool Works by 167.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 132 shares during the period. Institutional investors own 79.77% of the company's stock.

Insider Activity

In other news, Director David Byron Smith, Jr. purchased 872 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the acquisition, the director directly 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 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.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Citigroup upped their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Barclays upped their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Finally, Truist Financial lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price on the stock. in a research report on Thursday, July 31st. One 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. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $260.67.

Illinois Tool Works Trading Down 0.4%

NYSE ITW traded down $1.02 during trading on Friday, reaching $264.73. 963,377 shares of the stock traded hands, compared to its average volume of 926,250. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The firm has a market cap of $77.17 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 5.71 and a beta of 1.09. The stock's 50-day moving average price is $258.01 and its 200 day moving average price is $250.66.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the business posted $2.54 earnings per share. 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. Analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This is a positive change 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 2.4%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.59%.

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.