Bahl & Gaynor Inc. Boosts Holdings in Illinois Tool Works Inc. $ITW

Bahl & Gaynor Inc. boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,156 shares of the industrial products company’s stock after purchasing an additional 1,429 shares during the quarter. Bahl & Gaynor Inc. owned about 0.23% of Illinois Tool Works worth $168,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp lifted its stake in Illinois Tool Works by 3.9% in the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock worth $3,465,570,000 after purchasing an additional 508,188 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Illinois Tool Works by 0.5% in the 1st 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 in the last quarter. GAMMA Investing LLC lifted its stake in Illinois Tool Works by 26,372.8% in the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company’s stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Illinois Tool Works by 11.3% in 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 worth $522,110,000 after purchasing an additional 209,671 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Illinois Tool Works by 4.7% in the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after buying an additional 91,359 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday. Wells Fargo & Company increased their price target 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. Barclays increased their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. UBS Group increased their price target 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. Finally, Truist Financial lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target on the stock. in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average price target of $260.67.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 872 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the acquisition, the director directly owned 122,884 shares in the company, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Price Performance

ITW stock opened at $269.2230 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The firm’s fifty day moving average is $255.55 and its 200 day moving average is $250.35. The firm has a market cap of $78.48 billion, a P/E ratio of 23.60, a P/E/G ratio of 5.63 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.61 dividend. 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 yield of 2.4%. Illinois Tool Works’s payout ratio is 56.44%.

Illinois Tool Works Company 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.