Massachusetts Wealth Management Buys 85 Shares of Illinois Tool Works Inc. $ITW

Massachusetts Wealth Management boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,634 shares of the industrial products company’s stock after purchasing an additional 85 shares during the period. Massachusetts Wealth Management’s holdings in Illinois Tool Works were worth $1,888,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Illinois Tool Works by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock worth $627,176,000 after purchasing an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Illinois Tool Works by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock worth $513,994,000 after purchasing an additional 13,354 shares during the period. Invesco Ltd. boosted its position in Illinois Tool Works by 4.7% during the first quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after purchasing an additional 91,359 shares during the period. Dimensional Fund Advisors LP boosted its position in Illinois Tool Works by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock worth $435,508,000 after purchasing an additional 45,316 shares during the period. Finally, Amundi boosted its position in Illinois Tool Works by 1.1% during the first quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock worth $383,828,000 after purchasing an additional 17,119 shares during the period. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. UBS Group upped their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Truist Financial upped their target price on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $262.83.

View Our Latest Stock Analysis on Illinois Tool Works

Insider Activity at Illinois Tool Works

In other Illinois Tool Works 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 transaction of $1,803,074.16. Following the transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 1.1%

Shares of Illinois Tool Works stock opened at $252.91 on Thursday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm has a market cap of $73.72 billion, a PE ratio of 22.17, a PEG ratio of 5.65 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The company has a 50 day simple moving average of $261.33 and a two-hundred day simple moving average of $251.09.

Illinois Tool Works (NYSE:ITWGet Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the business posted $2.54 earnings per share. Illinois Tool Works’s revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. 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. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s payout ratio is 56.44%.

About Illinois Tool Works

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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