DLK Investment Management LLC Increases Position in Illinois Tool Works Inc. $ITW

DLK Investment Management LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,466 shares of the industrial products company’s stock after purchasing an additional 440 shares during the period. Illinois Tool Works comprises approximately 2.3% of DLK Investment Management LLC’s portfolio, making the stock its 15th largest position. DLK Investment Management LLC’s holdings in Illinois Tool Works were worth $6,049,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Illinois Tool Works by 26,372.8% in the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company’s stock valued at $5,123,080,000 after acquiring an additional 2,057,872 shares during the last quarter. Auto Owners Insurance Co lifted its stake in Illinois Tool Works by 55,978.4% during the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock worth $354,654,000 after purchasing an additional 1,427,450 shares during the last quarter. Nuveen LLC acquired a new position in Illinois Tool Works in the first quarter valued at approximately $293,928,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Illinois Tool Works by 11.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company’s stock worth $522,110,000 after purchasing an additional 209,671 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $47,254,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW opened at $261.90 on Wednesday. The stock’s 50 day simple moving average is $260.95 and its 200 day simple moving average is $250.82. The stock has a market cap of $76.34 billion, a P/E ratio of 22.95, a P/E/G ratio of 5.69 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. 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 (NYSE:ITW) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating 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 company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the company earned $2.54 earnings per share. Illinois Tool Works’s 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 analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a $1.61 dividend. 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 2.5%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.59%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ITW. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Barclays upped their target price on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. UBS Group raised 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. Finally, Citigroup increased their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $260.67.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’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 of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is currently owned by company insiders.

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.