Illinois Tool Works Inc. $ITW Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 57.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,597 shares of the industrial products company’s stock after selling 280,564 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.07% of Illinois Tool Works worth $52,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $26,000. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works in the first quarter valued at approximately $26,000. Park Square Financial Group LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $35,000. Olde Wealth Management LLC acquired a new position in Illinois Tool Works in the first quarter valued at approximately $49,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Illinois Tool Works by 167.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 132 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 872 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the purchase, the director directly owned 122,884 shares of the company’s stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

ITW stock opened at $269.2230 on Friday. The company has a market capitalization of $78.48 billion, a P/E ratio of 23.60, a PEG ratio of 5.63 and a beta of 1.09. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The business has a 50 day simple moving average of $255.55 and a 200-day simple moving average of $250.35. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping 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 business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the business earned $2.54 earnings per share. The company’s quarterly 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, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS 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. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.59%.

Analysts Set New Price Targets

ITW has been the subject of a number of research analyst reports. Citigroup upped their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday. Barclays upped their price target on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. UBS Group upped their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company upped their price target on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $260.67.

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.