Illinois Tool Works Inc. $ITW Shares Purchased by American Century Companies Inc.

American Century Companies Inc. grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,752 shares of the industrial products company’s stock after buying an additional 3,311 shares during the period. American Century Companies Inc.’s holdings in Illinois Tool Works were worth $15,763,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ITW. Vanguard Group Inc. boosted its holdings in 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 worth $6,607,453,000 after purchasing an additional 335,955 shares during the period. Geode Capital Management LLC lifted its position in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after buying an additional 122,990 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Illinois Tool Works by 12.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after buying an additional 415,982 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Illinois Tool Works by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock valued at $627,176,000 after buying an additional 11,854 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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. 79.77% of the stock is currently owned by institutional investors.

Insider Transactions at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works 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 transaction, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 0.4%

ITW stock opened at $248.56 on Wednesday. The firm has a market cap of $72.11 billion, a PE ratio of 24.11, a P/E/G ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.98. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio 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 posted its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research reports. Barclays lifted 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. Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $220.00 to $255.00 in a research report on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft increased their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. Finally, Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $263.77.

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.