Saudi Central Bank Buys Shares of 116 Illinois Tool Works Inc. $ITW

Saudi Central Bank bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 116 shares of the industrial products company’s stock, valued at approximately $29,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in Illinois Tool Works by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock valued at $627,176,000 after buying an additional 11,854 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Illinois Tool Works by 26,372.8% in the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company’s stock valued at $5,123,080,000 after purchasing an additional 2,057,872 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Illinois Tool Works by 11.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company’s stock valued at $522,110,000 after purchasing an additional 209,671 shares during the last quarter. Invesco Ltd. grew its position 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 valued at $504,683,000 after purchasing an additional 91,359 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Illinois Tool Works by 2.6% in the first 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 during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target on the stock. in a research report on Thursday, July 31st. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price target on the stock. in a research report on Wednesday, May 7th. UBS Group increased their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Finally, Citigroup increased their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $260.67.

Illinois Tool Works Stock Down 0.4%

Shares of NYSE ITW opened at $264.73 on Monday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm’s 50 day moving average price is $258.01 and its 200 day moving average price is $250.59. The firm has a market cap of $77.17 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 5.71 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business earned $2.54 earnings per share. Illinois Tool Works’s revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is 52.59%.

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.