Illinois Tool Works Inc. $ITW Shares Bought by Alley Investment Management Company LLC

Alley Investment Management Company LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,660 shares of the industrial products company’s stock after buying an additional 198 shares during the period. Alley Investment Management Company LLC’s holdings in Illinois Tool Works were worth $9,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Auto Owners Insurance Co increased its holdings in shares of Illinois Tool Works by 55,978.4% during the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock worth $354,654,000 after buying an additional 1,427,450 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $293,928,000. JPMorgan Chase & Co. increased its holdings in shares of Illinois Tool Works by 14.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock worth $313,734,000 after buying an additional 160,009 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Illinois Tool Works by 50.5% during the 1st quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock worth $92,020,000 after buying an additional 124,443 shares during the last quarter. Finally, Aberdeen Group plc boosted its position in shares of Illinois Tool Works by 118.7% during the 1st quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock worth $54,789,000 after purchasing an additional 121,141 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ITW shares. UBS Group increased their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Citigroup increased their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Finally, Barclays raised their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $260.67.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $261.08 on Wednesday. The company’s fifty day moving average price is $261.57 and its 200 day moving average price is $250.92. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The firm has a market capitalization of $76.10 billion, a P/E ratio of 22.88, a P/E/G ratio of 5.64 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. Illinois Tool Works’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, sell-side 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.59%.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction 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 transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

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.