Illinois Tool Works Inc. $ITW Shares Purchased by Groupe la Francaise

Groupe la Francaise boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 16.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,449 shares of the industrial products company’s stock after buying an additional 3,908 shares during the period. Groupe la Francaise’s holdings in Illinois Tool Works were worth $6,757,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Illinois Tool Works during the second quarter worth about $821,888,000. Nuveen LLC purchased a new stake in Illinois Tool Works in the 1st quarter valued at approximately $293,928,000. Massachusetts Financial Services Co. MA increased its position in Illinois Tool Works by 12.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock worth $938,822,000 after purchasing an additional 415,982 shares during the period. Laurel Wealth Advisors LLC lifted its holdings in shares of Illinois Tool Works by 24,625.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 343,431 shares of the industrial products company’s stock valued at $84,913,000 after buying an additional 342,042 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Illinois Tool Works by 1.3% in the second quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after buying an additional 335,955 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.4%

Shares of ITW opened at $248.56 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $278.98. The stock has a market cap of $72.11 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The firm has a 50 day simple moving average of $249.24 and a 200-day simple moving average of $253.25.

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

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ITW shares. Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a research report on Monday, October 27th. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their price target for the company from $220.00 to $255.00 in a report on Tuesday, November 18th. Wells Fargo & Company decreased their price objective 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, October 27th. Barclays increased their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Finally, Truist Financial decreased their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $263.77.

Insider Activity

In other news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the transaction, the director owned 39,249 shares of the company’s stock, valued at $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction 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. This trade represents a 39.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.88% of the company’s stock.

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.