Van Hulzen Asset Management LLC Boosts Holdings in Illinois Tool Works Inc. $ITW

Van Hulzen Asset Management LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,760 shares of the industrial products company’s stock after acquiring an additional 4,296 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in Illinois Tool Works were worth $7,853,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works during the second quarter worth approximately $25,000. SOA Wealth Advisors LLC. grew its stake in shares of Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after buying an additional 50 shares during the period. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth $29,000. 1248 Management LLC purchased a new position in shares of Illinois Tool Works in the 1st quarter worth $30,000. Finally, Banque Transatlantique SA acquired a new position in Illinois Tool Works in the first quarter valued at $30,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.7%

Shares of NYSE:ITW opened at $247.48 on Tuesday. The company has a market capitalization of $71.79 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The company has a 50 day moving average of $249.49 and a two-hundred day moving average of $253.27. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $278.98. 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 (NYSE:ITW) last posted its earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on ITW. 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 report on Thursday, October 2nd. Barclays boosted their target price on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a research report on Monday, October 27th. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Two equities 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. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus price target of $263.77.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is currently owned by insiders.

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.