Illinois Tool Works Inc. $ITW Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,477 shares of the industrial products company’s stock after selling 379 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Illinois Tool Works were worth $14,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works during the first quarter worth approximately $26,000. Park Square Financial Group LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $35,000. Olde Wealth Management LLC acquired a new position in shares of Illinois Tool Works during the first quarter worth approximately $49,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Illinois Tool Works by 167.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company’s stock worth $52,000 after buying an additional 132 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $269.2230 on Friday. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The stock has a fifty day moving average of $255.55 and a 200-day moving average of $250.33. The company has a market capitalization of $78.48 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 5.81 and a beta of 1.09. 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, beating the consensus estimate 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 company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $2.54 EPS. The company’s revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were bought at an average cost of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director directly owned 122,884 shares in the company, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ITW has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Stifel Nicolaus upped their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price for the company. in a research report on Wednesday, May 7th. Barclays upped their target price on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Finally, UBS Group upped their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $260.67.

Illinois Tool Works 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.