Amundi Has $204.54 Million Position in Illinois Tool Works Inc. $ITW

Amundi lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 50.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 797,594 shares of the industrial products company’s stock after selling 802,054 shares during the quarter. Amundi owned approximately 0.27% of Illinois Tool Works worth $204,543,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Illinois Tool Works during the second quarter valued at approximately $821,888,000. Nuveen LLC acquired a new position in shares of Illinois Tool Works during the 1st quarter worth $293,928,000. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 valued at $938,822,000 after purchasing an additional 415,982 shares in the last quarter. Laurel Wealth Advisors LLC lifted its stake 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 purchasing an additional 342,042 shares during the last quarter. Finally, 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 in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.1%

NYSE ITW opened at $249.67 on Friday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $278.13. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market cap of $72.43 billion, a PE ratio of 24.22, a PEG ratio of 11.12 and a beta of 1.14. The firm has a 50-day simple moving average of $248.65 and a 200 day simple moving average of $253.21.

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 for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the company earned $3.91 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.61 dividend. 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 (DPR) is 62.46%.

Insiders Place Their Bets

In related news, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ITW shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Evercore ISI reduced their target price on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a report on Monday, November 17th. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a report on Monday, October 27th. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday, October 27th. Finally, Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $220.00 to $255.00 in a report on Tuesday, November 18th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $261.58.

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.