Fenimore Asset Management Inc Purchases 2,289 Shares of Illinois Tool Works Inc. $ITW

Fenimore Asset Management Inc lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 393,529 shares of the industrial products company’s stock after purchasing an additional 2,289 shares during the period. Illinois Tool Works comprises approximately 1.9% of Fenimore Asset Management Inc’s portfolio, making the stock its 23rd largest holding. Fenimore Asset Management Inc’s holdings in Illinois Tool Works were worth $97,300,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after acquiring an additional 277 shares during the period. Bison Wealth LLC grew its stake in Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after buying an additional 81 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Illinois Tool Works during the first quarter valued at about $125,000. Sivia Capital Partners LLC purchased a new position in shares of Illinois Tool Works in the first quarter worth $214,000. Finally, UMB Bank n.a. raised its stake in Illinois Tool Works by 1.3% in the 1st quarter. UMB Bank n.a. now owns 43,097 shares of the industrial products company’s stock worth $10,688,000 after acquiring an additional 539 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ITW. UBS Group upped their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Stifel Nicolaus increased their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Truist Financial lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price on the stock. in a report on Thursday, July 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Saturday, September 27th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $261.58.

Insider Buying and Selling

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated 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 in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Down 0.2%

Shares of NYSE:ITW opened at $260.19 on Monday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm’s 50 day moving average price is $261.43 and its 200 day moving average price is $250.99. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The stock has a market cap of $75.85 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 5.75 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced 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. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm posted $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. As a group, equities research 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 issued a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

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.