Mountain Pacific Investment Advisers LLC Decreases Position in Illinois Tool Works Inc. $ITW

Mountain Pacific Investment Advisers LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,561 shares of the industrial products company’s stock after selling 240 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Illinois Tool Works were worth $2,364,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Illinois Tool Works by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock worth $627,176,000 after buying an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Illinois Tool Works by 0.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock worth $513,994,000 after acquiring an additional 13,354 shares in the last quarter. Invesco Ltd. increased its position in shares of Illinois Tool Works by 4.7% during the first quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after acquiring an additional 91,359 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Illinois Tool Works by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock valued at $435,508,000 after acquiring an additional 45,316 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Illinois Tool Works by 1.1% in the first quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock valued at $383,828,000 after purchasing an additional 17,119 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of several research reports. Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Citigroup raised their price target 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. Wells Fargo & Company increased their target price 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. UBS Group boosted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Finally, Barclays upped 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 report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus target price of $260.67.

Illinois Tool Works Trading Down 0.3%

NYSE ITW opened at $259.89 on Thursday. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a 50 day moving average price of $261.50 and a 200 day moving average price of $250.98. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The firm has a market cap of $75.76 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 5.62 and a beta of 1.10.

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 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 during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm earned $2.54 earnings per share. Illinois Tool Works’s 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. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.5%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is currently 56.44%.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

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.