PFG Advisors Increases Stake in Illinois Tool Works Inc. $ITW

PFG Advisors lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 21.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,840 shares of the industrial products company’s stock after purchasing an additional 1,930 shares during the period. PFG Advisors’ holdings in Illinois Tool Works were worth $2,680,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Illinois Tool Works by 0.5% during 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Illinois Tool Works by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock valued at $513,994,000 after purchasing an additional 13,354 shares during the period. Invesco Ltd. lifted its holdings in Illinois Tool Works by 4.7% in the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after buying an additional 91,359 shares during the period. Dimensional Fund Advisors LP increased its position in Illinois Tool Works by 2.6% during the 1st 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 period. Finally, Amundi raised its holdings in Illinois Tool Works by 1.1% in the 1st quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock worth $383,828,000 after purchasing an additional 17,119 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research reports. The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a research note on Monday, October 27th. Wells Fargo & Company cut their price objective on 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. Truist Financial decreased their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. Barclays lifted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Finally, Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and a consensus price target of $262.00.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction 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 represents 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 company insiders.

Illinois Tool Works Trading Up 0.5%

Illinois Tool Works stock opened at $245.47 on Monday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a market capitalization of $71.21 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The business’s fifty day simple moving average is $255.34 and its two-hundred day simple moving average is $253.00. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39.

Illinois Tool Works (NYSE:ITW) last posted its quarterly 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 firm had revenue of $4.06 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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 firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Illinois Tool Works Company 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.