Mraz Amerine & Associates Inc. Makes New $457,000 Investment in Illinois Tool Works Inc. $ITW

Mraz Amerine & Associates Inc. bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,850 shares of the industrial products company’s stock, valued at approximately $457,000.

Several other large investors also recently modified their holdings of the stock. Auto Owners Insurance Co increased its position in Illinois Tool Works by 55,978.4% in the first 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 purchased a new stake in Illinois Tool Works in the 1st quarter worth about $293,928,000. JPMorgan Chase & Co. raised its stake in Illinois Tool Works by 14.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock valued at $313,734,000 after acquiring an additional 160,009 shares during the period. Citigroup Inc. lifted its holdings in Illinois Tool Works by 50.5% during the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock valued at $92,020,000 after purchasing an additional 124,443 shares during the last quarter. Finally, Aberdeen Group plc boosted its position in Illinois Tool Works by 118.7% during the first 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. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’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 completion of the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

ITW has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. 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. Stifel Nicolaus lifted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Wells Fargo & Company boosted their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Finally, UBS Group raised their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average price target of $261.58.

Illinois Tool Works Trading Down 0.5%

Shares of ITW stock opened at $258.76 on Tuesday. The company has a market capitalization of $75.43 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 5.75 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The business’s fifty day moving average is $261.41 and its 200 day moving average is $251.05. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping 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 business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $2.54 EPS. 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. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a $1.61 dividend. This is an increase 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 of this dividend is Tuesday, September 30th. Illinois Tool Works’s payout ratio is 56.44%.

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.