Illinois Tool Works Inc. $ITW Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 70.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,030 shares of the industrial products company's stock after selling 4,907 shares during the quarter. Wellington Management Group LLP's holdings in Illinois Tool Works were worth $503,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Trust Co of the South boosted its position in shares of Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after buying an additional 42 shares during the last quarter. Clearstead Trust LLC boosted its position in Illinois Tool Works by 0.9% in the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company's stock worth $1,180,000 after purchasing an additional 43 shares during the last quarter. Northern Financial Advisors Inc lifted its position in shares of Illinois Tool Works by 1.9% during the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company's stock valued at $582,000 after buying an additional 44 shares in the last quarter. Integrated Advisors Network LLC boosted its position in shares of Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock worth $1,504,000 after purchasing an additional 45 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of Illinois Tool Works by 3.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock worth $355,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group upped their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Barclays increased their price target on Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Truist Financial lowered Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price on the stock. in a research note on Thursday, July 31st. Finally, Wells Fargo & Company upped 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 research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $260.67.

Illinois Tool Works Stock Up 0.2%

Shares of ITW stock traded up $0.48 during trading hours on Friday, reaching $266.15. 327,673 shares of the company's stock were exchanged, compared to its average volume of 1,072,939. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The stock's fifty day moving average price is $259.41 and its two-hundred day moving average price is $250.84. 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 stock has a market cap of $77.58 billion, a PE ratio of 23.33, a PEG ratio of 5.64 and a beta of 1.10.

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. Research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business 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 $1.61 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works's dividend payout ratio is presently 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.