Impax Asset Management Group plc Has $1.77 Million Holdings in Illinois Tool Works Inc. $ITW

Impax Asset Management Group plc raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 118.7% in the 2nd quarter, Holdings Channel reports. The firm owned 7,159 shares of the industrial products company’s stock after acquiring an additional 3,885 shares during the period. Impax Asset Management Group plc’s holdings in Illinois Tool Works were worth $1,770,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. OneAscent Financial Services LLC raised its stake in shares of Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after acquiring an additional 341 shares during the last quarter. Modern Wealth Management LLC grew its stake in shares of Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 65 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Illinois Tool Works by 39.5% in the second quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock valued at $16,674,000 after purchasing an additional 19,102 shares during the period. Nordea Investment Management AB raised its position in Illinois Tool Works by 9.5% during the 2nd quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock worth $9,605,000 after purchasing an additional 3,388 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Illinois Tool Works by 17.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company’s stock worth $4,447,000 after buying an additional 2,647 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director owned 39,249 shares in the company, valued at $9,625,817.25. The trade was a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Barclays increased their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research report on Monday, October 27th. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Stock Down 0.1%

Illinois Tool Works stock opened at $245.28 on Friday. The firm has a market capitalization of $71.16 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The firm’s fifty day moving average price is $253.87 and its two-hundred day moving average price is $252.95. 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 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39.

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

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

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.