MBB Public Markets I LLC Acquires Shares of 1,260 Illinois Tool Works Inc. $ITW

MBB Public Markets I LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,260 shares of the industrial products company’s stock, valued at approximately $312,000.

Other hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in Illinois Tool Works during the 4th quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $26,000. Saudi Central Bank acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $29,000. 1248 Management LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of a number of analyst reports. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Truist Financial lowered 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. Wells Fargo & Company boosted 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. UBS Group lifted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. 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 research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $260.67.

Illinois Tool Works Stock Down 1.7%

ITW opened at $262.19 on Wednesday. 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 company has a market capitalization of $76.43 billion, a PE ratio of 22.98, a P/E/G ratio of 5.75 and a beta of 1.10. The stock’s fifty day moving average is $260.30 and its 200-day moving average is $250.77. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued 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. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works’s payout ratio is presently 52.59%.

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.