Spirepoint Private Client LLC Buys 4,602 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Spirepoint Private Client LLC increased its stake in Illinois Tool Works by 134.4%, acquiring an additional 4,602 shares, bringing its total holdings to 8,025 shares valued at nearly $1.98 million.
• Illinois Tool Works has set a target for FY 2025 earnings per share between $10.350 and $10.550, reflecting analysts' estimates of 10.39 EPS for the current year.
• The company recently announced a quarterly dividend of $1.61, increasing from the previous dividend of $1.50, resulting in an annualized dividend of $6.44 and a yield of 2.5%.

Spirepoint Private Client LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 134.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,025 shares of the industrial products company's stock after purchasing an additional 4,602 shares during the quarter. Spirepoint Private Client LLC's holdings in Illinois Tool Works were worth $1,984,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new stake in Illinois Tool Works during the 1st quarter worth approximately $214,000. OneAscent Financial Services LLC boosted its position in Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after buying an additional 341 shares during the period. Modern Wealth Management LLC boosted its position in Illinois Tool Works by 8.3% during the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock worth $210,000 after buying an additional 65 shares during the period. Sowell Financial Services LLC acquired a new stake in Illinois Tool Works during the 1st quarter worth approximately $946,000. Finally, Advisory Alpha LLC acquired a new stake in Illinois Tool Works during the 1st quarter worth approximately $259,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITW has been the topic of several recent research reports. Stifel Nicolaus lifted 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. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. Truist Financial downgraded 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 research report on Thursday, July 31st. Citigroup boosted their price target 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. Finally, Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Reduce" and a consensus target price of $260.67.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $261.32 on Friday. The company has a fifty day moving average of $261.42 and a 200-day moving average of $250.80. The firm has a market capitalization of $76.17 billion, a P/E ratio of 22.90, a P/E/G ratio of 5.56 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 twelve month low of $214.66 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data 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 company 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%. Illinois Tool Works's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.61 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.59%.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.88% of the company's stock.

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.

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