Belpointe Asset Management LLC Has $838,000 Stock Holdings in Illinois Tool Works Inc. $ITW

Belpointe Asset Management LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,378 shares of the industrial products company’s stock after selling 73 shares during the quarter. Belpointe Asset Management LLC’s holdings in Illinois Tool Works were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ITW. Brighton Jones LLC increased its stake in shares of Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after acquiring an additional 277 shares during the last quarter. Bison Wealth LLC increased its stake in shares of Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after acquiring an additional 81 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Illinois Tool Works by 82.7% in the fourth quarter. Lazard Asset Management LLC now owns 2,339 shares of the industrial products company’s stock worth $593,000 after purchasing an additional 1,059 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Illinois Tool Works by 1.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,103 shares of the industrial products company’s stock worth $13,718,000 after purchasing an additional 662 shares in the last quarter. Finally, Man Group plc boosted its holdings in Illinois Tool Works by 45.1% in the fourth quarter. Man Group plc now owns 35,376 shares of the industrial products company’s stock worth $8,970,000 after purchasing an additional 10,999 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 1.1%

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

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, 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 period in the prior year, the company earned $2.54 earnings per share. The business’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. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Truist Financial cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price objective for the company. in a report on Thursday, July 31st. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Citigroup upped their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, Barclays upped their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. One equities research analyst has 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 MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $260.67.

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.