US Bancorp DE Has $63.39 Million Stock Holdings in Illinois Tool Works Inc. $ITW

US Bancorp DE lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 256,389 shares of the industrial products company’s stock after selling 7,685 shares during the quarter. US Bancorp DE’s holdings in Illinois Tool Works were worth $63,393,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ITW. Auto Owners Insurance Co lifted its holdings in shares of Illinois Tool Works by 55,978.4% during the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock worth $354,654,000 after purchasing an additional 1,427,450 shares during the period. Nuveen LLC acquired a new stake in Illinois Tool Works in the first quarter valued at $293,928,000. JPMorgan Chase & Co. increased its holdings in Illinois Tool Works by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock valued at $313,734,000 after purchasing an additional 160,009 shares during the period. Citigroup Inc. increased its holdings in Illinois Tool Works by 50.5% in the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock valued at $92,020,000 after purchasing an additional 124,443 shares during the period. Finally, Aberdeen Group plc increased its holdings in Illinois Tool Works by 118.7% in the first quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock valued at $54,789,000 after purchasing an additional 121,141 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ITW shares. Barclays increased their price objective on 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 price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Citigroup upped their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. 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. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Stock Performance

Shares of ITW opened at $248.19 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $72.35 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 5.59 and a beta of 1.10. The firm’s fifty day simple moving average is $261.18 and its two-hundred day simple moving average is $251.04. 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 released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. 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. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is currently 56.44%.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the 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 transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by company insiders.

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.