Amundi Boosts Position in Illinois Tool Works Inc. $ITW

Amundi increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,599,648 shares of the industrial products company’s stock after buying an additional 17,119 shares during the period. Amundi’s holdings in Illinois Tool Works were worth $383,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $26,000. Saudi Central Bank bought a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $29,000. 1248 Management LLC bought a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $30,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $35,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.5%

Shares of Illinois Tool Works stock opened at $260.97 on Thursday. The firm’s 50 day moving average price is $259.04 and its 200-day moving average price is $250.79. 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 market cap of $76.07 billion, a P/E ratio of 22.87, a PEG ratio of 5.71 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm earned $2.54 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS 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 given a $1.61 dividend. 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 an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is presently 52.59%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ITW. UBS Group lifted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Truist Financial downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price on the stock. in a research report on Thursday, July 31st. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price on the stock. in a research report on Wednesday, May 7th. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Finally, Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and an average price target of $260.67.

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.