Illinois Tool Works Inc. $ITW Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,022 shares of the industrial products company’s stock after buying an additional 20,836 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Illinois Tool Works were worth $64,290,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 acquiring an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Illinois Tool Works by 0.6% during 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 valued at $513,994,000 after purchasing 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 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock valued at $504,683,000 after purchasing an additional 91,359 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Illinois Tool Works by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock worth $435,508,000 after buying an additional 45,316 shares in the last quarter. Finally, Amundi lifted 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 buying an additional 17,119 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $245.16 on Thursday. The stock has a 50-day moving average price of $254.28 and a two-hundred day moving average price of $253.00. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The stock has a market cap of $71.12 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the firm posted $3.91 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be given a dividend of $1.61 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction 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 $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This trade represents a 3.73% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ITW shares. 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 research note on Thursday, July 31st. Barclays lifted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research report on Monday, October 27th. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $262.00.

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.