Illinois Tool Works Inc. $ITW Position Boosted by Shell Asset Management Co.

Shell Asset Management Co. raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 76.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,747 shares of the industrial products company’s stock after purchasing an additional 2,932 shares during the quarter. Shell Asset Management Co.’s holdings in Illinois Tool Works were worth $1,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Brighton Jones LLC boosted its stake in Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares in the last quarter. Bison Wealth LLC boosted its stake in Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Illinois Tool Works by 19.9% during the 1st quarter. Farther Finance Advisors LLC now owns 3,359 shares of the industrial products company’s stock valued at $835,000 after purchasing an additional 557 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in Illinois Tool Works during the 1st quarter valued at $363,000. Finally, Wealthcare Advisory Partners LLC boosted its stake in Illinois Tool Works by 1.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,055 shares of the industrial products company’s stock valued at $1,006,000 after purchasing an additional 54 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $252.91 on Thursday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $73.72 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 5.65 and a beta of 1.10. The stock’s fifty day simple moving average is $261.33 and its 200-day simple moving average is $251.09.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating 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 business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. Illinois Tool Works’s revenue for the quarter 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. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This is a positive change 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 is 56.44%.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on 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 completion of the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group increased their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Stifel Nicolaus increased their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Barclays increased their price objective 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. Finally, Truist Financial increased their price objective on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $262.83.

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.