Envestnet Asset Management Inc. Has $174.18 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Envestnet Asset Management Inc. boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 704,475 shares of the industrial products company’s stock after buying an additional 36,685 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Illinois Tool Works were worth $174,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of ITW. OneAscent Financial Services LLC raised its stake in shares of Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after purchasing an additional 341 shares in the last quarter. Modern Wealth Management LLC increased its holdings in Illinois Tool Works by 8.3% in the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after buying an additional 65 shares during the period. Nordea Investment Management AB increased its holdings in Illinois Tool Works by 9.5% in the 2nd quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock valued at $9,605,000 after buying an additional 3,388 shares during the period. Advisory Alpha LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $259,000. Finally, Global X Japan Co. Ltd. lifted its holdings in shares of Illinois Tool Works by 8.3% during the 2nd quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 193 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.9%

Shares of ITW opened at $247.85 on Tuesday. The stock has a fifty day moving average price of $259.13 and a two-hundred day moving average price of $252.07. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a market cap of $72.25 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 5.42 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the company posted $3.91 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. 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 disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is presently 62.46%.

Insider Transactions at Illinois Tool Works

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 stock was 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 in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their target price 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. The Goldman Sachs Group set a $258.00 price objective on Illinois Tool Works in a research note on Monday. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday. Truist Financial decreased their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $262.00.

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.