IQ EQ FUND MANAGEMENT IRELAND Ltd Has $1.20 Million Stock Position in Illinois Tool Works Inc. $ITW

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,846 shares of the industrial products company’s stock after buying an additional 50 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Illinois Tool Works were worth $1,198,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. OneAscent Financial Services LLC grew its holdings in shares of Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after buying an additional 341 shares during the last quarter. Modern Wealth Management LLC boosted its holdings in Illinois Tool Works by 8.3% during the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 65 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Illinois Tool Works by 9.5% during the second quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock worth $9,605,000 after purchasing an additional 3,388 shares during the last quarter. Advisory Alpha LLC purchased a new position in Illinois Tool Works during the first quarter worth about $259,000. Finally, Global X Japan Co. Ltd. boosted its holdings in Illinois Tool Works by 8.3% during the second quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock worth $624,000 after purchasing an additional 193 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the sale, the chief accounting officer 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 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 Stock Performance

Shares of ITW stock opened at $245.85 on Wednesday. The firm has a market cap of $71.32 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 5.47 and a beta of 1.10. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The firm’s 50-day simple moving average is $258.77 and its two-hundred day simple moving average is $252.20.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the firm posted $3.91 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works’s payout ratio is presently 62.46%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ITW shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Monday. 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, August 19th. Finally, Barclays boosted their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average price target of $262.00.

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.