Chicago Partners Investment Group LLC Grows Stake in Illinois Tool Works Inc. $ITW

Chicago Partners Investment Group LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 41.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,350 shares of the industrial products company’s stock after buying an additional 692 shares during the period. Chicago Partners Investment Group LLC’s holdings in Illinois Tool Works were worth $619,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ITW. Auto Owners Insurance Co increased its position in 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 buying an additional 1,427,450 shares in the last quarter. Nuveen LLC purchased a new position in Illinois Tool Works during the first quarter worth $293,928,000. JPMorgan Chase & Co. increased its position in Illinois Tool Works by 14.5% during the first quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock worth $313,734,000 after buying an additional 160,009 shares in the last quarter. Citigroup Inc. increased its position in Illinois Tool Works by 50.5% during the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock worth $92,020,000 after buying an additional 124,443 shares in the last quarter. Finally, Aberdeen Group plc increased its position in Illinois Tool Works by 118.7% during the first quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock worth $54,789,000 after buying an additional 121,141 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.9%

Shares of NYSE ITW opened at $257.17 on Wednesday. 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 $74.96 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 5.58 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock’s 50-day simple moving average is $260.00 and its 200-day simple moving average is $251.17.

Illinois Tool Works (NYSE:ITW) last announced its earnings results 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. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company earned $2.54 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Wells Fargo & Company lifted their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Citigroup lifted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Barclays lifted their target price 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. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $262.83.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was 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 of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by corporate 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.