Illinois Tool Works Inc. $ITW Shares Sold by Wealth Advisory Solutions LLC

Wealth Advisory Solutions LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 17.7% during the second quarter, Holdings Channel.com reports. The firm owned 1,058 shares of the industrial products company’s stock after selling 227 shares during the quarter. Wealth Advisory Solutions LLC’s holdings in Illinois Tool Works were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ITW. Ameriflex Group Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works in the 1st quarter valued at about $26,000. Saudi Central Bank purchased a new position in shares of Illinois Tool Works in the 1st quarter valued at about $29,000. 1248 Management LLC purchased a new position in shares of Illinois Tool Works in the 1st quarter valued at about $30,000. Finally, Banque Transatlantique SA purchased a new position in shares of Illinois Tool Works in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ITW. UBS Group increased their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Stifel Nicolaus increased their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Barclays increased their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target on the stock. in a research note on Thursday, July 31st. Finally, Wells Fargo & Company raised their price target on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $260.67.

Insider Buying and Selling at Illinois Tool Works

In related news, 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 value of $1,803,074.16. Following the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Down 0.3%

Illinois Tool Works stock opened at $261.07 on Tuesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a market cap of $76.10 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10. The stock’s 50 day moving average price is $261.15 and its 200 day moving average price is $250.69.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $2.54 earnings per share. The company’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. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.59%.

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.