Bontempo Ohly Capital Mgmt LLC Invests $4.21 Million in Illinois Tool Works Inc. $ITW

Bontempo Ohly Capital Mgmt LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the first quarter, HoldingsChannel reports. The firm bought 16,986 shares of the industrial products company’s stock, valued at approximately $4,213,000. Illinois Tool Works accounts for 2.0% of Bontempo Ohly Capital Mgmt LLC’s investment portfolio, making the stock its 17th largest holding.

A number of other institutional investors also recently modified their holdings of the company. First Hawaiian Bank boosted its holdings in shares of Illinois Tool Works by 5.8% during the first quarter. First Hawaiian Bank now owns 916 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 50 shares during the period. Modern Wealth Management LLC raised its stake in Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after buying an additional 65 shares in the last quarter. Nova Wealth Management Inc. bought a new position in Illinois Tool Works in the first quarter worth about $36,000. Strs Ohio bought a new position in Illinois Tool Works in the first quarter worth about $16,240,000. Finally, Advisors Capital Management LLC raised its stake in Illinois Tool Works by 2.6% in the first quarter. Advisors Capital Management LLC now owns 2,534 shares of the industrial products company’s stock worth $629,000 after buying an additional 64 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Barclays increased their price target on shares of 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. Citigroup increased their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Truist Financial downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target for the company. in a research note on Thursday, July 31st. Finally, 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 note on Thursday, July 31st. One analyst has 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, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $260.67.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $266.50 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a 50 day simple moving average of $260.58 and a two-hundred day simple moving average of $250.89. The company has a market capitalization of $77.69 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 5.66 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating 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 business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the firm earned $2.54 earnings per share. The business’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. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared 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 an increase 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.