Phoenix Financial Ltd. Increases Holdings in Illinois Tool Works Inc. $ITW

Phoenix Financial Ltd. lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 24.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,322 shares of the industrial products company’s stock after purchasing an additional 262 shares during the period. Phoenix Financial Ltd.’s holdings in Illinois Tool Works were worth $328,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Frazier Financial Advisors LLC purchased a new stake in Illinois Tool Works during the second quarter worth $25,000. von Borstel & Associates Inc. purchased a new stake in Illinois Tool Works during the first quarter worth $26,000. SOA Wealth Advisors LLC. lifted its holdings in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after buying an additional 50 shares during the period. Saudi Central Bank purchased a new stake in Illinois Tool Works during the first quarter worth $29,000. Finally, 1248 Management LLC purchased a new stake in Illinois Tool Works during the first quarter worth $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $253.06 on Thursday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The stock has a fifty day moving average price of $259.71 and a 200-day moving average price of $251.18. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The firm has a market cap of $73.77 billion, a PE ratio of 22.18, a P/E/G ratio of 5.69 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business posted $2.54 EPS. The business’s revenue for the quarter 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. Equities research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is currently 56.44%.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ITW. Truist Financial upped their target price on Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. 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 report on Monday, August 4th. Wells Fargo & Company upped their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $262.83.

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.