MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Position in Illinois Tool Works Inc. $ITW

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.8% in the first quarter, Holdings Channel reports. The institutional investor owned 55,072 shares of the industrial products company’s stock after buying an additional 969 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Illinois Tool Works were worth $13,658,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in Illinois Tool Works during the 4th quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new position in Illinois Tool Works during the 1st quarter valued at about $26,000. Saudi Central Bank purchased a new position in Illinois Tool Works during the 1st quarter valued at about $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works during the 1st quarter valued at about $30,000. Finally, Banque Transatlantique SA purchased a new position in Illinois Tool Works during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $266.57 on Tuesday. The business has a 50 day moving average of $260.16 and a 200 day moving average of $250.69. The company has a market capitalization of $77.70 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 5.74 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The company 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a $1.61 dividend. The ex-dividend date is Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio is presently 52.59%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITW. UBS Group lifted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Stifel Nicolaus lifted their price target 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. Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target for the company. in a research report on Thursday, July 31st. Wells Fargo & Company lifted their price target 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. Finally, Barclays lifted their price target on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research report 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. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $260.67.

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.