Saudi Central Bank Purchases New Position in Illinois Tool Works Inc. $ITW

Saudi Central Bank purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 116 shares of the industrial products company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 11,854 shares during the last quarter. GAMMA Investing LLC lifted its position in 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 acquiring an additional 2,057,872 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 period. Invesco Ltd. raised its holdings 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 buying an additional 91,359 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings 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 buying an additional 45,316 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of ITW opened at $264.73 on Monday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The stock’s 50 day moving average is $258.01 and its two-hundred day moving average is $250.59. The firm has a market capitalization of $77.17 billion, a PE ratio of 23.20, a P/E/G ratio of 5.71 and a beta of 1.10. 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 announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company earned $2.54 EPS. The firm’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. Research 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 announced 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 represents a $6.44 dividend on an annualized basis and a yield of 2.4%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is 52.59%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ITW. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Truist Financial cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price for the company. in a report on Thursday, July 31st. UBS Group upped their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Barclays upped their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Finally, Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and a consensus price target of $260.67.

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.