McGuire Investment Group LLC Increases Position in Illinois Tool Works Inc. $ITW

McGuire Investment Group LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 43,646 shares of the industrial products company’s stock after buying an additional 397 shares during the period. Illinois Tool Works accounts for approximately 1.4% of McGuire Investment Group LLC’s portfolio, making the stock its 28th largest position. McGuire Investment Group LLC’s holdings in Illinois Tool Works were worth $10,791,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in Illinois Tool Works during the first quarter worth about $26,000. SOA Wealth Advisors LLC. raised its holdings in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank purchased a new position in Illinois Tool Works during the first quarter worth about $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works during the first quarter worth about $30,000. Finally, Banque Transatlantique SA purchased a new position in Illinois Tool Works during the first quarter worth about $30,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on ITW. 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 report on Monday, July 14th. Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Barclays increased their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. UBS Group increased their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Finally, Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $260.67.

Illinois Tool Works Stock Down 0.3%

ITW stock opened at $259.89 on Thursday. The company’s 50 day simple moving average is $261.50 and its 200-day simple moving average is $250.98. The firm has a market capitalization of $75.76 billion, a PE ratio of 22.78, a P/E/G ratio of 5.62 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month 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 released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share 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 56.44%.

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.