Simplicity Wealth LLC Acquires 5,460 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Simplicity Wealth LLC significantly increased its stake in Illinois Tool Works Inc. by 123.0%, acquiring an additional 5,460 shares and bringing its total holdings to 9,900 shares valued at approximately $2.45 million.
• Illinois Tool Works reported a quarterly earnings per share of $2.58, exceeding analysts' estimates, and projected a fiscal year 2025 EPS guidance of 10.350-10.550.
• The company has announced a quarterly dividend increase to $1.61, with a yield of 2.5% and a dividend payout ratio of 56.44%, effective October 10th for shareholders of record on September 30th.

Simplicity Wealth LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 123.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,900 shares of the industrial products company's stock after acquiring an additional 5,460 shares during the quarter. Simplicity Wealth LLC's holdings in Illinois Tool Works were worth $2,448,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $26,000. SOA Wealth Advisors LLC. grew its holdings in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company's stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Illinois Tool Works during the first quarter valued at about $29,000. 1248 Management LLC purchased a new position in shares of Illinois Tool Works in the first quarter worth $30,000. Finally, Banque Transatlantique SA purchased a new stake in Illinois Tool Works during the 1st quarter valued at about $30,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $260.19 on Monday. The company has a fifty day simple moving average of $261.43 and a 200-day simple moving average of $250.99. The firm has a market capitalization of $75.85 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 5.75 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 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 posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion for 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%. Illinois Tool Works's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio (DPR) is currently 56.44%.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction 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 transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock a "hold" rating in a research report on Thursday. Citigroup raised their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an "underperform" rating in a research note on Tuesday, August 19th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note 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 objective for the company. in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Illinois Tool Works currently has an average rating of "Reduce" and a consensus target price of $261.58.

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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