RFG Advisory LLC Purchases 74 Shares of Illinois Tool Works Inc. $ITW

RFG Advisory LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the second quarter, HoldingsChannel reports. The firm owned 5,152 shares of the industrial products company’s stock after buying an additional 74 shares during the quarter. RFG Advisory LLC’s holdings in Illinois Tool Works were worth $1,274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Illinois Tool Works by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock worth $627,176,000 after acquiring an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Illinois Tool Works by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock worth $513,994,000 after acquiring an additional 13,354 shares during the period. Invesco Ltd. increased its position in Illinois Tool Works by 4.7% during the first quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after acquiring an additional 91,359 shares during the period. Dimensional Fund Advisors LP increased its position in Illinois Tool Works by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock worth $435,508,000 after acquiring an additional 45,316 shares during the period. Finally, Amundi increased its position in Illinois Tool Works by 1.1% during the first quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock worth $383,828,000 after acquiring an additional 17,119 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.4%

Shares of NYSE:ITW opened at $246.75 on Friday. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. 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’s fifty day moving average is $260.30 and its 200-day moving average is $250.86. The company has a market capitalization of $71.93 billion, a PE ratio of 21.63, a P/E/G ratio of 5.48 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued 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. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company earned $2.54 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities research 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 company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a $1.61 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction 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 in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research reports. Citigroup boosted their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Finally, Barclays lifted 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 research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $262.83.

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.