Ameritas Advisory Services LLC Decreases Position in Illinois Tool Works Inc. $ITW

Ameritas Advisory Services LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 42.5% during the 2nd quarter, Holdings Channel reports. The fund owned 2,891 shares of the industrial products company’s stock after selling 2,135 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Illinois Tool Works were worth $715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ITW. Brighton Jones LLC boosted its stake in shares of 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 lifted its stake in Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after acquiring an additional 81 shares during the last quarter. NBC Securities Inc. acquired a new position in Illinois Tool Works during the 1st quarter worth approximately $125,000. Sivia Capital Partners LLC purchased a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $214,000. Finally, UMB Bank n.a. lifted its position in shares of Illinois Tool Works by 1.3% during the 1st quarter. UMB Bank n.a. now owns 43,097 shares of the industrial products company’s stock worth $10,688,000 after purchasing an additional 539 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s 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 transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $260.19 on Monday. The company’s 50 day simple moving average is $261.43 and its 200-day simple moving average is $250.99. The firm has a market cap of $75.85 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 5.75 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is 56.44%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays raised their price target on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Citigroup raised their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a report on Saturday, September 27th. Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $261.58.

Illinois Tool Works Company 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.