Sciencast Management LP Raises Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Sciencast Management LP increased its holdings in Illinois Tool Works by 50.7% in Q1, bringing its total to 14,280 shares worth approximately $3.54 million.
• Illinois Tool Works recently raised its quarterly dividend to $1.61 per share, up from $1.50, representing a 2.4% yield with a payout ratio of 52.59%.
• The company's latest earnings report indicated a Q2 EPS of $2.58, surpassing estimates, with revenue slightly above expectations at $4.05 billion.

Sciencast Management LP grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 50.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,280 shares of the industrial products company's stock after buying an additional 4,805 shares during the period. Sciencast Management LP's holdings in Illinois Tool Works were worth $3,542,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Illinois Tool Works by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock valued at $627,176,000 after buying an additional 11,854 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Illinois Tool Works by 26,372.8% during the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock valued at $5,123,080,000 after buying an additional 2,057,872 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Illinois Tool Works by 11.3% during the 4th 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 buying an additional 209,671 shares during the last quarter. Invesco Ltd. lifted its position in shares of Illinois Tool Works by 4.7% during the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock valued at $504,683,000 after buying an additional 91,359 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Illinois Tool Works by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company's stock valued at $435,508,000 after buying an additional 45,316 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $266.05 on Monday. The business's 50-day moving average price is $259.77 and its two-hundred day moving average price is $250.68. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The stock has a market cap of $77.55 billion, a P/E ratio of 23.32, a PEG ratio of 5.74 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 (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company 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 is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date 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 is currently 52.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ITW. Stifel Nicolaus increased their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Truist Financial cut Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective on the stock. in a report on Thursday, July 31st. Citigroup increased their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Barclays increased their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Finally, UBS Group increased their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $260.67.

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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