Vest Financial LLC Boosts Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Vest Financial LLC increased its holdings in Illinois Tool Works by 7.0%, bringing its total shares to 225,658 with a current value of $55.8 million.
• Illinois Tool Works recently increased its quarterly dividend from $1.50 to $1.61 per share, equating to an annual yield of 2.6%.
• Analysts have set varied price targets for Illinois Tool Works, with the average target currently at $262.83 and a consensus rating of "Reduce."

Vest Financial LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,658 shares of the industrial products company's stock after acquiring an additional 14,726 shares during the quarter. Vest Financial LLC owned approximately 0.08% of Illinois Tool Works worth $55,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in Illinois Tool Works during the 1st quarter valued at about $26,000. SOA Wealth Advisors LLC. grew its holdings in shares of Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company's stock worth $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Illinois Tool Works during the first quarter worth about $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works during the first quarter worth about $30,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Illinois Tool Works during the first quarter worth about $30,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. UBS Group lifted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" 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, August 19th. Citigroup lifted their price target 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. Barclays boosted their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a "hold" rating in a research report on Thursday, October 2nd. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Reduce" and an average target price of $262.83.

Illinois Tool Works Price Performance

ITW opened at $244.79 on Monday. 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 52-week low of $214.66 and a 52-week high of $279.13. The company has a 50 day moving average of $261.04 and a two-hundred day moving average of $250.93. The company has a market cap of $71.36 billion, a P/E ratio of 21.45, a P/E/G ratio of 5.41 and a beta of 1.10.

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 (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 during 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. Illinois Tool Works'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, analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.61 per share. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works's payout ratio is presently 56.44%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business's stock in a transaction that occurred 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 directly owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

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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