Illinois Tool Works Inc. $ITW Position Increased by Shell Asset Management Co.

Shell Asset Management Co. increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 76.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,747 shares of the industrial products company’s stock after acquiring an additional 2,932 shares during the period. Shell Asset Management Co.’s holdings in Illinois Tool Works were worth $1,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works during the first quarter worth $26,000. SOA Wealth Advisors LLC. increased its position in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Saudi Central Bank acquired a new position in Illinois Tool Works during the first quarter worth $29,000. 1248 Management LLC acquired a new position in Illinois Tool Works during the first quarter worth $30,000. Finally, Banque Transatlantique SA acquired a new position in Illinois Tool Works during the first quarter worth $30,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Down 1.1%

Shares of ITW opened at $252.91 on Thursday. The stock has a market cap of $73.72 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 5.65 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a 50-day moving average price of $261.33 and a two-hundred day moving average price of $251.09.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (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 during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. Illinois Tool Works’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. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Analyst Upgrades and Downgrades

Several research firms have commented on ITW. 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 report on Wednesday. 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 report on Thursday, July 31st. Stifel Nicolaus raised 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. Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $262.83.

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.