65,481 Shares in Illinois Tool Works Inc. $ITW Bought by Strs Ohio

Strs Ohio acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 1st quarter, Holdings Channel.com reports. The firm acquired 65,481 shares of the industrial products company’s stock, valued at approximately $16,240,000.

Several other hedge funds have also added to or reduced their stakes in the business. Trust Co of the South raised its stake in Illinois Tool Works by 2.9% during the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company’s stock worth $367,000 after buying an additional 42 shares during the period. Clearstead Trust LLC raised its stake in shares of Illinois Tool Works by 0.9% in the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after purchasing an additional 43 shares during the period. Northern Financial Advisors Inc raised its stake in shares of Illinois Tool Works by 1.9% in the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 44 shares during the period. Integrated Advisors Network LLC raised its stake in shares of Illinois Tool Works by 0.8% in the 4th quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company’s stock valued at $1,504,000 after purchasing an additional 45 shares during the period. Finally, Aspen Investment Management Inc raised its stake in shares of Illinois Tool Works by 0.7% in the 1st quarter. Aspen Investment Management Inc now owns 6,236 shares of the industrial products company’s stock valued at $1,547,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ITW. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Wells Fargo & Company raised their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Barclays raised their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. UBS Group raised 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. Finally, Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and a consensus price target of $260.67.

Illinois Tool Works Trading Down 1.1%

Illinois Tool Works stock opened at $263.41 on Friday. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The stock has a market capitalization of $76.78 billion, a P/E ratio of 23.09, a PEG ratio of 5.75 and a beta of 1.10. The stock has a 50-day simple moving average of $260.68 and a 200 day simple moving average of $250.88. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 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. 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. Analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 52.59%.

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.