UNIVEST FINANCIAL Corp Has $441,000 Stock Holdings in Illinois Tool Works Inc. $ITW

UNIVEST FINANCIAL Corp lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 12.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,785 shares of the industrial products company’s stock after buying an additional 200 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Illinois Tool Works were worth $441,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. AdvisorShares Investments LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth about $43,000. Strs Ohio grew its position in shares of Illinois Tool Works by 9.2% in the 2nd quarter. Strs Ohio now owns 71,507 shares of the industrial products company’s stock valued at $17,680,000 after acquiring an additional 6,026 shares during the period. Amalgamated Bank lifted its stake in Illinois Tool Works by 0.6% in the 2nd quarter. Amalgamated Bank now owns 57,134 shares of the industrial products company’s stock valued at $14,126,000 after purchasing an additional 360 shares during the last quarter. Savvy Advisors Inc. lifted its stake in Illinois Tool Works by 31.7% in the 2nd quarter. Savvy Advisors Inc. now owns 2,837 shares of the industrial products company’s stock valued at $701,000 after purchasing an additional 683 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Illinois Tool Works by 110.2% in the 2nd quarter. Assetmark Inc. now owns 5,093 shares of the industrial products company’s stock valued at $1,259,000 after purchasing an additional 2,670 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 0.6%

Shares of ITW stock opened at $243.48 on Friday. The firm has a 50 day moving average price of $258.02 and a two-hundred day moving average price of $252.21. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $70.63 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 4.10 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.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the previous year, the company earned $3.91 EPS. The business’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. As a group, analysts predict 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 declared 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 payout ratio is presently 62.46%.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 completion of the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Citigroup raised their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Two 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $262.00.

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.