Van Hulzen Asset Management LLC Acquires 26,603 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Van Hulzen Asset Management LLC significantly increased its stake in Illinois Tool Works by 3,089.8%, owning 27,464 shares valued at $6.81 million after purchasing an additional 26,603 shares during the quarter.
• Illinois Tool Works announced an increase in its quarterly dividend to $1.61 per share, representing a 2.5% yield, with the ex-dividend date set for September 30th.
• Recent analyst ratings show mixed opinions on Illinois Tool Works, with targets ranging from $220.00 to $283.00, and a consensus price target of $260.67.

Van Hulzen Asset Management LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3,089.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,464 shares of the industrial products company's stock after acquiring an additional 26,603 shares during the quarter. Van Hulzen Asset Management LLC's holdings in Illinois Tool Works were worth $6,811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in Illinois Tool Works by 3.9% in the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after acquiring an additional 508,188 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Illinois Tool Works by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock worth $627,176,000 after purchasing an additional 11,854 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Illinois Tool Works by 26,372.8% in the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Illinois Tool Works by 11.3% in the fourth 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 worth $522,110,000 after purchasing an additional 209,671 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Illinois Tool Works by 4.7% in the first quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock worth $504,683,000 after purchasing an additional 91,359 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of ITW stock traded down $0.20 during trading hours on Tuesday, hitting $266.54. 1,393,353 shares of the company's stock were exchanged, compared to its average volume of 1,089,023. 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 Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The business's 50 day simple moving average is $256.00 and its 200-day simple moving average is $250.37. The company has a market capitalization of $77.70 billion, a PE ratio of 23.36, a PEG ratio of 5.81 and a beta of 1.09.

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. 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 for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm earned $2.54 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is presently 56.44%.

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent research reports. Barclays lifted their target price 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. Citigroup lifted their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Truist Financial downgraded 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 note on Thursday, July 31st. 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 note on Thursday, July 31st. Finally, Wells Fargo & Company lifted their target price 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. One equities research 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. According to MarketBeat, Illinois Tool Works has an average rating of "Reduce" and an average target price of $260.67.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 872 shares of Illinois Tool Works stock in a transaction on Monday, June 2nd. The shares were acquired at an average cost of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director owned 122,884 shares in the company, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.