Aberdeen Group plc Acquires 10,802 Shares of Illinois Tool Works Inc. $ITW

Aberdeen Group plc boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,029 shares of the industrial products company’s stock after acquiring an additional 10,802 shares during the quarter. Aberdeen Group plc’s holdings in Illinois Tool Works were worth $57,864,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new stake in Illinois Tool Works in the first quarter valued at approximately $26,000. SOA Wealth Advisors LLC. boosted its holdings in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Saudi Central Bank bought a new stake in Illinois Tool Works in the first quarter valued at approximately $29,000. 1248 Management LLC bought a new stake in Illinois Tool Works in the first quarter valued at approximately $30,000. Finally, Banque Transatlantique SA bought a new stake in Illinois Tool Works in the first quarter valued at approximately $30,000. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group upped their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday. Truist Financial boosted their price target on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Barclays boosted their price target 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. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $262.83.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on 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 directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $244.79 on Friday. 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 twelve month low of $214.66 and a twelve month high of $279.13. The stock’s 50 day moving average is $261.04 and its 200-day moving average is $250.93. The firm has a market capitalization of $71.36 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 5.41 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. Illinois Tool Works’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. 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 business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was 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 currently 56.44%.

About Illinois Tool Works

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.