Vestmark Advisory Solutions Inc. Boosts Stake in Illinois Tool Works Inc. $ITW

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Illinois Tool Works by 94.9% in the first quarter, owning 5,948 shares valued at approximately $1.475 million.
• Illinois Tool Works reported a $2.58 earnings per share for the last quarter, exceeding analysts' estimates and showing a 0.6% year-over-year revenue increase to $4.05 billion.
• The company announced a quarterly dividend increase to $1.61 per share, reflecting a 2.5% yield, with the dividend set to be paid on October 10th.

Vestmark Advisory Solutions Inc. grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 94.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,948 shares of the industrial products company's stock after buying an additional 2,896 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Illinois Tool Works were worth $1,475,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. William B. Walkup & Associates Inc. increased its stake in shares of Illinois Tool Works by 18.6% during the first quarter. William B. Walkup & Associates Inc. now owns 3,482 shares of the industrial products company's stock valued at $864,000 after buying an additional 546 shares during the period. Financial Network Wealth Advisors LLC increased its stake in shares of Illinois Tool Works by 42.0% during the first quarter. Financial Network Wealth Advisors LLC now owns 338 shares of the industrial products company's stock valued at $84,000 after buying an additional 100 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Illinois Tool Works by 7.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,028 shares of the industrial products company's stock valued at $1,991,000 after buying an additional 524 shares during the period. Caitong International Asset Management Co. Ltd increased its stake 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 buying an additional 132 shares during the period. Finally, National Pension Service grew its stake in Illinois Tool Works by 9.4% in the first quarter. National Pension Service now owns 671,958 shares of the industrial products company's stock worth $166,652,000 after purchasing an additional 57,631 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ITW. Robert W. Baird upped their price target on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a research note on Wednesday, May 7th. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an "underperform" rating in a research note on Tuesday. Wells Fargo & Company upped their price target on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Finally, Barclays upped their price target on 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. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $260.67.

Illinois Tool Works Stock Up 3.2%

Shares of NYSE ITW traded up $8.2650 during trading on Friday, reaching $269.2650. The company had a trading volume of 324,663 shares, compared to its average volume of 1,084,764. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The stock has a market cap of $78.49 billion, a PE ratio of 23.60, a P/E/G ratio of 5.65 and a beta of 1.09. The business's 50-day moving average is $254.99 and its 200 day moving average is $250.25. 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 (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the prior year, the firm posted $2.54 earnings per share. The company'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, equities 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 disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's payout ratio is 52.59%.

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.