World Investment Advisors Boosts Holdings in Illinois Tool Works Inc. $ITW

World Investment Advisors raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the 2nd quarter, Holdings Channel reports. The fund owned 17,075 shares of the industrial products company’s stock after purchasing an additional 190 shares during the period. World Investment Advisors’ holdings in Illinois Tool Works were worth $4,222,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Auto Owners Insurance Co raised its holdings in Illinois Tool Works by 55,978.4% during the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock valued at $354,654,000 after buying an additional 1,427,450 shares during the period. Nuveen LLC bought a new position in shares of Illinois Tool Works during the 1st quarter worth $293,928,000. JPMorgan Chase & Co. grew its position in shares of Illinois Tool Works by 14.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock worth $313,734,000 after buying an additional 160,009 shares in the last quarter. Citigroup Inc. raised its holdings in Illinois Tool Works by 50.5% in the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock worth $92,020,000 after purchasing an additional 124,443 shares in the last quarter. Finally, Aberdeen Group plc raised its holdings in Illinois Tool Works by 118.7% in the first quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock worth $54,789,000 after purchasing an additional 121,141 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 subject of several research analyst reports. Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Citigroup raised their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. The Goldman Sachs Group set a $258.00 price target on Illinois Tool Works in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Finally, UBS Group boosted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Stock Performance

ITW opened at $241.96 on Thursday. The stock has a market cap of $70.19 billion, a P/E ratio of 23.47, a P/E/G ratio of 4.16 and a beta of 1.10. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $258.37 and its 200 day simple moving average is $252.27. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results 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 return on equity of 93.26% and a net margin of 19.05%.The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the prior year, the firm earned $3.91 EPS. 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. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be given a $1.61 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.7%. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

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.