Illinois Tool Works Inc. $ITW Shares Purchased by Phoenix Financial Ltd.

Phoenix Financial Ltd. lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 24.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,322 shares of the industrial products company’s stock after acquiring an additional 262 shares during the period. Phoenix Financial Ltd.’s holdings in Illinois Tool Works were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Illinois Tool Works by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock worth $627,176,000 after purchasing an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Illinois Tool Works by 0.6% during the 1st 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 worth $513,994,000 after purchasing an additional 13,354 shares during the period. Invesco Ltd. grew its position in Illinois Tool Works by 4.7% during the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after purchasing an additional 91,359 shares during the period. Dimensional Fund Advisors LP grew 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 worth $435,508,000 after purchasing an additional 45,316 shares during the period. Finally, Amundi grew its position in Illinois Tool Works by 1.1% during 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 during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 1.6%

Shares of Illinois Tool Works stock opened at $253.06 on Thursday. The firm has a market capitalization of $73.77 billion, a PE ratio of 22.18, a P/E/G ratio of 5.69 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The firm’s 50-day moving average price is $259.71 and its 200 day moving average price is $251.18. 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 issued its quarterly earnings results 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. The firm 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% compared to the same quarter last year. During the same period last year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a $1.61 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio is 56.44%.

Insiders Place Their Bets

In other Illinois Tool Works 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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on ITW. Wells Fargo & Company increased their price target on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Citigroup increased their price target on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. UBS Group increased their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Truist Financial increased their target price on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Finally, Barclays increased their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $262.83.

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.