Guardian Investment Management Has $1.48 Million Stock Position in Illinois Tool Works Inc. $ITW

Guardian Investment Management trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 15.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the industrial products company’s stock after selling 1,100 shares during the quarter. Illinois Tool Works comprises approximately 1.5% of Guardian Investment Management’s holdings, making the stock its 19th largest position. Guardian Investment Management’s holdings in Illinois Tool Works were worth $1,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ITW. Brighton Jones LLC increased its holdings in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after buying an additional 277 shares during the period. Bison Wealth LLC increased its holdings in Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after buying an additional 81 shares during the period. Two Sigma Investments LP increased its holdings in Illinois Tool Works by 23.4% in the 4th quarter. Two Sigma Investments LP now owns 6,214 shares of the industrial products company’s stock valued at $1,576,000 after buying an additional 1,180 shares during the period. First Hawaiian Bank increased its holdings in Illinois Tool Works by 5.8% in the 1st quarter. First Hawaiian Bank now owns 916 shares of the industrial products company’s stock valued at $227,000 after buying an additional 50 shares during the period. Finally, Central Pacific Bank Trust Division increased its holdings in Illinois Tool Works by 8.5% in the 1st quarter. Central Pacific Bank Trust Division now owns 4,722 shares of the industrial products company’s stock valued at $1,171,000 after buying an additional 369 shares during the period. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of several analyst reports. Citigroup boosted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. UBS Group upped their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Finally, Barclays increased their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $260.67.

Illinois Tool Works Trading Up 1.3%

Shares of NYSE ITW opened at $261.32 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm has a market capitalization of $76.17 billion, a P/E ratio of 22.90, a P/E/G ratio of 5.63 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The company’s 50 day simple moving average is $261.42 and its 200 day simple moving average is $250.79.

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

Illinois Tool Works Increases Dividend

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

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were 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. This trade represents a 39.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.88% of the stock is owned by corporate insiders.

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.