Versor Investments LP Takes Position in Illinois Tool Works Inc. $ITW

Key Points

• Versor Investments LP acquired 6,221 shares of Illinois Tool Works Inc. (ITW), valued at approximately $1.54 million, during the first quarter.
• Illinois Tool Works recently increased its quarterly dividend to $1.61, reflecting an annualized payout of $6.44 and a yield of 2.5%.
• Several analysts have given mixed ratings on ITW, with Stifel Nicolaus setting a target price of $261 and Bank of America downgrading it to "underperform" with a target of $220.

Versor Investments LP bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,221 shares of the industrial products company's stock, valued at approximately $1,543,000.

A number of other large investors have also added to or reduced their stakes in ITW. Ameriflex Group Inc. bought a new position in Illinois Tool Works in the fourth quarter worth about $26,000. von Borstel & Associates Inc. bought a new position in Illinois Tool Works in the first quarter worth about $26,000. Park Square Financial Group LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at about $35,000. Olde Wealth Management LLC acquired a new position in shares of Illinois Tool Works during the first quarter valued at about $49,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Illinois Tool Works by 167.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 132 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. acquired 872 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director directly owned 122,884 shares of the company's stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

ITW has been the topic of several recent analyst reports. Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a report on Wednesday, May 7th. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a 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 report on Tuesday. Robert W. Baird raised their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. One investment 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 MarketBeat, Illinois Tool Works currently has a consensus rating of "Reduce" and an average target price of $260.67.

Illinois Tool Works Stock Performance

NYSE:ITW traded down $0.9680 during midday trading on Thursday, hitting $261.0520. The company's stock had a trading volume of 1,029,979 shares, compared to its average volume of 1,089,731. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm's 50 day moving average is $254.69 and its 200-day moving average is $250.22. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The firm has a market cap of $76.10 billion, a P/E ratio of 22.88, a P/E/G ratio of 5.69 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share 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 quarter in the prior year, the company earned $2.54 EPS. 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. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend 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 is 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.