Mraz Amerine & Associates Inc. Invests $457,000 in Illinois Tool Works Inc. $ITW

Mraz Amerine & Associates Inc. acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,850 shares of the industrial products company’s stock, valued at approximately $457,000.

Other hedge funds also recently bought and sold shares of the company. Auto Owners Insurance Co raised its stake in shares of Illinois Tool Works by 55,978.4% during the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock worth $354,654,000 after acquiring an additional 1,427,450 shares in the last quarter. Nuveen LLC bought a new position in shares of Illinois Tool Works during the 1st quarter valued at $293,928,000. JPMorgan Chase & Co. raised its position in Illinois Tool Works by 14.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock worth $313,734,000 after purchasing an additional 160,009 shares during the period. Citigroup Inc. lifted its stake in Illinois Tool Works by 50.5% in the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock worth $92,020,000 after purchasing an additional 124,443 shares during the last quarter. Finally, Aberdeen Group plc grew its stake in shares of Illinois Tool Works by 118.7% during the first quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock valued at $54,789,000 after buying an additional 121,141 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $258.76 on Tuesday. The firm has a market capitalization of $75.43 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 5.75 and a beta of 1.10. The stock has a fifty day moving average of $261.41 and a 200 day moving average of $251.05. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. 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 (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS 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 business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business earned $2.54 EPS. The company’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. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed 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. This represents a $6.44 annualized dividend and a yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 56.44%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ITW. Truist Financial cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price for the company. in a report on Thursday, July 31st. Barclays increased their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Citigroup lifted their target price 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. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $261.58.

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.