Massachusetts Financial Services Co. MA Increases Position in Illinois Tool Works Inc. $ITW

Massachusetts Financial Services Co. MA raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 12.3% during the 2nd quarter, Holdings Channel reports. The firm owned 3,797,055 shares of the industrial products company’s stock after buying an additional 415,982 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Illinois Tool Works were worth $938,822,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC raised its position in Illinois Tool Works by 1.9% during the second quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after acquiring an additional 122,990 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Illinois Tool Works by 0.6% during the first 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 acquiring an additional 13,354 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Illinois Tool Works by 4.7% in 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 last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in 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 valued at $435,508,000 after purchasing an additional 45,316 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the transaction, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $243.75 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a market cap of $70.71 billion, a P/E ratio of 23.64, a PEG ratio of 4.10 and a beta of 1.11. The company has a 50-day moving average price of $253.42 and a 200 day moving average price of $252.97.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the company earned $3.91 earnings per share. Illinois Tool Works’s revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $1.61 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is presently 62.46%.

Wall Street Analyst Weigh In

ITW has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday, October 27th. Barclays raised their target price on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. Robert W. Baird set a $265.00 price objective on shares of Illinois Tool Works in a research report on Monday, October 27th. 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 report on Thursday, July 31st. Finally, Stifel Nicolaus boosted their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $262.00.

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.