Shulman DeMeo Asset Management LLC Has $403,000 Holdings in Illinois Tool Works Inc. $ITW

Shulman DeMeo Asset Management LLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,631 shares of the industrial products company’s stock after selling 67 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in Illinois Tool Works were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ITW. Charles Schwab Investment Management Inc. raised its position in shares of Illinois Tool Works by 0.5% in the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Illinois Tool Works by 0.6% during the 1st 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. GAMMA Investing LLC raised its holdings in Illinois Tool Works by 26,372.8% in the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company’s stock valued at $5,123,080,000 after acquiring an additional 2,057,872 shares in the last quarter. Invesco Ltd. raised its holdings in Illinois Tool Works by 4.7% in the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock valued at $504,683,000 after acquiring an additional 91,359 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Illinois Tool Works by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock valued at $435,508,000 after acquiring an additional 45,316 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ITW shares. 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 report on Thursday, July 31st. UBS Group raised their target price on shares of 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 upped their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Citigroup lifted their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Finally, Barclays upped their target price on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $260.67.

Insiders Place Their Bets

In other Illinois Tool Works 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 completion of the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 0.0%

NYSE:ITW opened at $260.98 on Wednesday. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The firm’s fifty day moving average is $261.24 and its 200-day moving average is $250.76. The firm has a market cap of $76.08 billion, a P/E ratio of 22.87, a P/E/G ratio of 5.63 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. Illinois Tool Works’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

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

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.