Osaic Holdings Inc. Boosts Stake in Illinois Tool Works Inc. $ITW

Osaic Holdings Inc. lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,043 shares of the industrial products company’s stock after acquiring an additional 5,203 shares during the quarter. Osaic Holdings Inc.’s holdings in Illinois Tool Works were worth $19,069,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in Illinois Tool Works during the 2nd quarter worth approximately $821,888,000. Massachusetts Financial Services Co. MA raised its holdings in Illinois Tool Works by 12.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after acquiring an additional 415,982 shares in the last quarter. Laurel Wealth Advisors LLC boosted its stake in Illinois Tool Works by 24,625.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 343,431 shares of the industrial products company’s stock valued at $84,913,000 after acquiring an additional 342,042 shares during the last quarter. Vanguard Group Inc. grew its holdings in Illinois Tool Works by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock worth $6,607,453,000 after acquiring an additional 335,955 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Illinois Tool Works by 9.1% in the 2nd quarter. Invesco Ltd. now owns 2,220,345 shares of the industrial products company’s stock worth $548,980,000 after purchasing an additional 185,416 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $252.42 on Thursday. The firm has a fifty day moving average of $247.75 and a 200-day moving average of $253.71. The company has a market cap of $73.23 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 11.16 and a beta of 1.14. 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 1 year low of $214.66 and a 1 year high of $278.13.

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

Illinois Tool Works Dividend Announcement

The firm 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 dividend of $1.61 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is currently 62.46%.

Insider Transactions at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the 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 transaction, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays increased their price target 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. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. The Goldman Sachs Group lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and dropped their price target for the company from $258.00 to $230.00 in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Finally, Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $259.25.

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.