Illinois Tool Works Inc. $ITW Shares Acquired by Regents Gate Capital LLP

Regents Gate Capital LLP boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 263.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,123 shares of the industrial products company’s stock after purchasing an additional 35,615 shares during the period. Illinois Tool Works accounts for about 4.3% of Regents Gate Capital LLP’s portfolio, making the stock its 6th biggest holding. Regents Gate Capital LLP’s holdings in Illinois Tool Works were worth $12,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. State of Michigan Retirement System grew its position in shares of Illinois Tool Works by 0.9% in the 2nd quarter. State of Michigan Retirement System now owns 80,136 shares of the industrial products company’s stock valued at $19,814,000 after buying an additional 700 shares during the last quarter. iA Global Asset Management Inc. grew its position in shares of Illinois Tool Works by 25.7% in the 2nd quarter. iA Global Asset Management Inc. now owns 9,596 shares of the industrial products company’s stock valued at $2,373,000 after buying an additional 1,960 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in shares of Illinois Tool Works by 36.4% in the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,423 shares of the industrial products company’s stock valued at $352,000 after buying an additional 380 shares during the last quarter. Great Lakes Retirement Inc. grew its position in shares of Illinois Tool Works by 6.5% in the 2nd quarter. Great Lakes Retirement Inc. now owns 6,381 shares of the industrial products company’s stock valued at $1,587,000 after buying an additional 391 shares during the last quarter. Finally, AlphaStar Capital Management LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $966,000. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays upped their price target on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Stifel Nicolaus upped their target price 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 cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday, October 27th. The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a research report on Monday, October 27th. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $262.00.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. This 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 this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 0.2%

Shares of NYSE:ITW opened at $244.08 on Friday. The business’s 50 day simple moving average is $257.51 and its two-hundred day simple moving average is $252.43. The firm has a market cap of $70.81 billion, a P/E ratio of 23.67, a PEG ratio of 4.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.09. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a $1.61 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio is presently 62.46%.

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.