Illinois Tool Works Inc. $ITW Stake Raised by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,752 shares of the industrial products company’s stock after acquiring an additional 3,311 shares during the quarter. American Century Companies Inc.’s holdings in Illinois Tool Works were worth $15,763,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bank & Trust Co boosted its holdings in shares of Illinois Tool Works by 0.4% during the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 39 shares during the period. Northcape Wealth Management LLC lifted its position in Illinois Tool Works by 2.1% in the 2nd quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after buying an additional 40 shares in the last quarter. TFG Advisers LLC boosted its stake in shares of Illinois Tool Works by 0.5% during the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 42 shares during the period. Freedom Investment Management Inc. grew its holdings in shares of Illinois Tool Works by 3.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 42 shares in the last quarter. Finally, EPG Wealth Management LLC increased its stake in shares of Illinois Tool Works by 1.1% in the second quarter. EPG Wealth Management LLC now owns 3,893 shares of the industrial products company’s stock worth $963,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.4%

Illinois Tool Works stock opened at $248.56 on Wednesday. The business has a 50 day moving average price of $249.24 and a two-hundred day moving average price of $253.25. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month 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.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.09. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.91 EPS. 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 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s payout ratio is 62.46%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays boosted their target price on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Wells Fargo & Company lowered their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday, October 27th. Evercore ISI dropped their price objective on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a report on Monday, November 17th. The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a research note on Monday, October 27th. Finally, Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research note on Monday, October 27th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $263.77.

Insiders Place Their Bets

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.88% of the company’s stock.

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.