iA Global Asset Management Inc. Has $2.37 Million Stock Position in Illinois Tool Works Inc. $ITW

iA Global Asset Management Inc. lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 25.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,596 shares of the industrial products company’s stock after acquiring an additional 1,960 shares during the quarter. iA Global Asset Management Inc.’s holdings in Illinois Tool Works were worth $2,373,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ITW. Barclays lifted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft lifted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Citigroup boosted their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, Truist Financial reduced their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Stock Down 0.4%

NYSE ITW opened at $242.83 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a 50 day moving average of $257.03 and a 200-day moving average of $252.67. The company has a market cap of $70.44 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the business earned $3.91 earnings per share. The company’s 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. 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 Dividend Announcement

The company 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 dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s payout ratio is currently 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.