Intech Investment Management LLC Acquires 1,266 Shares of Illinois Tool Works Inc. $ITW

Intech Investment Management LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 22.8% during the second quarter, Holdings Channel reports. The fund owned 6,830 shares of the industrial products company’s stock after purchasing an additional 1,266 shares during the period. Intech Investment Management LLC’s holdings in Illinois Tool Works were worth $1,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Cetera Investment Advisers boosted its position in Illinois Tool Works by 4.2% during the second quarter. Cetera Investment Advisers now owns 72,504 shares of the industrial products company’s stock worth $17,927,000 after purchasing an additional 2,912 shares during the period. CWS Financial Advisors LLC lifted its stake in shares of Illinois Tool Works by 4.2% during the 2nd quarter. CWS Financial Advisors LLC now owns 1,530 shares of the industrial products company’s stock worth $378,000 after buying an additional 61 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Illinois Tool Works by 13.3% during the 2nd quarter. SG Americas Securities LLC now owns 10,666 shares of the industrial products company’s stock worth $2,637,000 after buying an additional 1,255 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Illinois Tool Works by 7.1% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 65,392 shares of the industrial products company’s stock valued at $16,168,000 after buying an additional 4,313 shares during the last quarter. Finally, Empower Advisory Group LLC grew its stake in Illinois Tool Works by 3.8% in the 2nd quarter. Empower Advisory Group LLC now owns 370,631 shares of the industrial products company’s stock valued at $91,638,000 after buying an additional 13,699 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ITW. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $255.00 in a report on Tuesday, November 18th. Truist Financial reduced their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Barclays increased their price objective 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. Finally, Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Reduce” and a consensus target price of $263.77.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $247.79 on Friday. The stock has a market capitalization of $71.88 billion, a PE ratio of 24.03, a P/E/G ratio of 4.10 and a beta of 1.11. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The business has a fifty day moving average price of $251.26 and a two-hundred day moving average price of $253.12. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

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

Illinois Tool Works Dividend Announcement

The company also recently declared 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. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio is 62.46%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the sale, the director owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.88% of the company’s stock.

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.