TCV Trust & Wealth Management Inc. Grows Stock Holdings in Illinois Tool Works Inc. $ITW

Key Points

• TCV Trust & Wealth Management Inc. increased its stake in Illinois Tool Works Inc. by 47.6%, holding 4,580 shares valued at approximately $1.13 million.
• Several institutional investors have also boosted their investments in Illinois Tool Works, with notable increases including GAMMA Investing LLC's 26,372.8% rise in shares.
• Illinois Tool Works announced a quarterly dividend increase from $1.50 to $1.61 per share, reflecting a dividend yield of 2.4% and set to be paid on October 10th.

TCV Trust & Wealth Management Inc. increased its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 47.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,580 shares of the industrial products company's stock after acquiring an additional 1,477 shares during the period. TCV Trust & Wealth Management Inc.'s holdings in Illinois Tool Works were worth $1,132,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Trust Co of the South boosted its position in Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after buying an additional 42 shares during the period. Clearstead Trust LLC raised its stake in shares of Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company's stock valued at $1,180,000 after acquiring an additional 43 shares during the last quarter. Northern Financial Advisors Inc raised its stake in shares of Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company's stock valued at $582,000 after acquiring an additional 44 shares during the last quarter. Integrated Advisors Network LLC raised its stake in shares of Illinois Tool Works by 0.8% during the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after acquiring an additional 45 shares during the last quarter. Finally, Aspen Investment Management Inc raised its stake in shares of Illinois Tool Works by 0.7% during the first quarter. Aspen Investment Management Inc now owns 6,236 shares of the industrial products company's stock valued at $1,547,000 after acquiring an additional 45 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research reports. Barclays increased their price target on shares of 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. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Wells Fargo & Company increased 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 note 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 note on Tuesday, August 19th. Finally, Citigroup upped their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $260.67.

Illinois Tool Works Price Performance

ITW traded up $1.10 during trading on Tuesday, hitting $261.99. 217,245 shares of the company traded hands, compared to its average volume of 1,058,850. The company has a market cap of $76.37 billion, a PE ratio of 22.96, a P/E/G ratio of 5.65 and a beta of 1.10. The stock's 50-day simple moving average is $261.15 and its two-hundred day simple moving average is $250.69. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40.

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, beating 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 during the quarter, compared to analysts' expectations of $4.01 billion. During the same period last year, the company posted $2.54 earnings per share. Illinois Tool Works's quarterly revenue was up .6% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio is presently 52.59%.

Insider Activity at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated 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 transaction, the chief accounting officer directly owned 10,314 shares of the company's stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company's stock.

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.