Aspen Investment Management Inc Has $1.55 Million Stake in Illinois Tool Works Inc. $ITW

Aspen Investment Management Inc increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,236 shares of the industrial products company’s stock after acquiring an additional 45 shares during the period. Aspen Investment Management Inc’s holdings in Illinois Tool Works were worth $1,547,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ITW. GAMMA Investing LLC boosted its stake in Illinois Tool Works by 26,372.8% during the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company’s stock valued at $5,123,080,000 after purchasing an additional 2,057,872 shares during the period. Auto Owners Insurance Co boosted its stake in Illinois Tool Works by 55,978.4% during the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock valued at $354,654,000 after purchasing an additional 1,427,450 shares during the period. Nuveen LLC bought a new stake in Illinois Tool Works during the 1st quarter valued at approximately $293,928,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Illinois Tool Works by 11.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company’s stock valued at $522,110,000 after purchasing an additional 209,671 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Illinois Tool Works during the 4th quarter valued at approximately $47,254,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $262.19 on Wednesday. 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 market capitalization of $76.43 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 5.75 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The business has a 50 day simple moving average of $260.30 and a 200 day simple moving average of $250.77.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.Illinois Tool Works’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors 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 is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is 52.59%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ITW. Barclays increased their target price on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price objective for the company. in a research report on Thursday, July 31st. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company raised their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $260.67.

Illinois Tool Works Profile

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.