Mitsubishi UFJ Trust & Banking Corp Grows Position in Illinois Tool Works Inc. $ITW

Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 260,022 shares of the industrial products company’s stock after buying an additional 20,836 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of Illinois Tool Works worth $64,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Advyzon Investment Management LLC grew its stake in Illinois Tool Works by 13.0% in the 2nd quarter. Advyzon Investment Management LLC now owns 920 shares of the industrial products company’s stock valued at $228,000 after acquiring an additional 106 shares during the period. CENTRAL TRUST Co raised its stake in Illinois Tool Works by 42.8% in the 2nd quarter. CENTRAL TRUST Co now owns 9,697 shares of the industrial products company’s stock valued at $2,398,000 after purchasing an additional 2,908 shares during the last quarter. Montag A & Associates Inc. boosted its stake in Illinois Tool Works by 4.1% during the 2nd quarter. Montag A & Associates Inc. now owns 6,562 shares of the industrial products company’s stock worth $1,632,000 after purchasing an additional 258 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Illinois Tool Works during the second quarter worth $2,673,000. Finally, Allworth Financial LP boosted its position in Illinois Tool Works by 11.4% during the second quarter. Allworth Financial LP now owns 5,115 shares of the industrial products company’s stock worth $1,265,000 after acquiring an additional 525 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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 that occurred 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 sale, the chief accounting officer owned 10,314 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the transaction, the director owned 39,249 shares of the company’s stock, valued at $9,625,817.25. The trade was a 3.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $245.16 on Thursday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The firm has a market cap of $71.12 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 4.10 and a beta of 1.11. The stock’s 50-day moving average is $254.28 and its two-hundred day moving average is $253.00.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the previous year, the business posted $3.91 earnings per share. Illinois Tool Works’s quarterly revenue was up 2.3% on a year-over-year basis. 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 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.61 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is presently 62.46%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial cut their price target on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Wells Fargo & Company lowered their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Barclays raised their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Finally, Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $262.00.

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.