Fifth Third Wealth Advisors LLC Boosts Holdings in Illinois Tool Works Inc. $ITW

Fifth Third Wealth Advisors LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,534 shares of the industrial products company’s stock after buying an additional 194 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Illinois Tool Works by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock valued at $627,176,000 after buying an additional 11,854 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Illinois Tool Works by 0.6% in 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 valued at $513,994,000 after buying an additional 13,354 shares during the last quarter. Invesco Ltd. grew its position in Illinois Tool Works by 4.7% in the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock valued at $504,683,000 after buying an additional 91,359 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Illinois Tool Works by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock valued at $435,508,000 after buying an additional 45,316 shares during the last quarter. Finally, Amundi grew its position in Illinois Tool Works by 1.1% in the 1st quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock valued at $383,828,000 after buying an additional 17,119 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on ITW shares. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Truist Financial boosted 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. Finally, UBS Group boosted 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. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Trading Down 1.4%

NYSE:ITW opened at $244.79 on Friday. The company has a market capitalization of $71.36 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 5.41 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 52-week low of $214.66 and a 52-week high of $279.13. The stock has a fifty day simple moving average of $261.04 and a 200-day simple moving average of $250.93.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $2.54 EPS. The business’s revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company 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 represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Insider Buying and Selling

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 shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works 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.