Pensionfund Sabic Sells 1,100 Shares of Illinois Tool Works Inc. $ITW

Pensionfund Sabic lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 14.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,300 shares of the industrial products company’s stock after selling 1,100 shares during the quarter. Pensionfund Sabic’s holdings in Illinois Tool Works were worth $1,562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Illinois Tool Works in the first quarter worth about $2,730,000. Voya Investment Management LLC lifted its holdings in shares of Illinois Tool Works by 0.5% in the first quarter. Voya Investment Management LLC now owns 59,108 shares of the industrial products company’s stock worth $14,659,000 after acquiring an additional 303 shares during the last quarter. 1248 Management LLC bought a new position in shares of Illinois Tool Works in the first quarter worth about $36,000. Bontempo Ohly Capital Mgmt LLC acquired a new position in shares of Illinois Tool Works in the first quarter valued at approximately $4,213,000. Finally, First Hawaiian Bank increased its stake in shares of Illinois Tool Works by 5.8% in the first quarter. First Hawaiian Bank now owns 916 shares of the industrial products company’s stock valued at $227,000 after buying an additional 50 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. UBS Group upped their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Stifel Nicolaus upped their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Finally, Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price objective for the company. in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $260.67.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $263.41 on Friday. The company has a market capitalization of $76.78 billion, a PE ratio of 23.09, a P/E/G ratio of 5.75 and a beta of 1.10. The company has a 50 day simple moving average of $260.68 and a two-hundred day simple moving average of $250.88. 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 Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last released 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. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is currently 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.