USS Investment Management Ltd Sells 11,515 Shares of Illinois Tool Works Inc. $ITW

Key Points

• USS Investment Management Ltd reduced its stake in Illinois Tool Works Inc. by 18.1%, selling 11,515 shares and now holding 52,027 shares valued at approximately $12.9 million.
• Equities research analysts have given mixed ratings to Illinois Tool Works, with one Buy, eight Hold, and three Sell ratings; the average target price is set at $260.67.
• Illinois Tool Works declared a quarterly dividend of $1.61 per share, an increase from the previous $1.50, with a dividend yield of 2.4%.

USS Investment Management Ltd lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,027 shares of the industrial products company's stock after selling 11,515 shares during the quarter. USS Investment Management Ltd's holdings in Illinois Tool Works were worth $12,906,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ITW. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $26,000. Saudi Central Bank bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $29,000. 1248 Management LLC bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $30,000. Finally, Banque Transatlantique SA bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $30,000. Institutional investors own 79.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their target price 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. Truist Financial cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price for the company. in a research report on Thursday, July 31st. Stifel Nicolaus boosted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Wells Fargo & Company boosted their price target on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Finally, Citigroup boosted their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $260.67.

Illinois Tool Works Stock Up 0.1%

Shares of NYSE ITW opened at $266.05 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The company has a market cap of $77.55 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 5.74 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The stock has a 50-day moving average price of $259.77 and a two-hundred day moving average price of $250.68.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.