Eads & Heald Wealth Management Reduces Stock Holdings in Illinois Tool Works Inc. $ITW

Eads & Heald Wealth Management reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,611 shares of the industrial products company’s stock after selling 137 shares during the quarter. Illinois Tool Works accounts for 1.2% of Eads & Heald Wealth Management’s holdings, making the stock its 24th largest position. Eads & Heald Wealth Management’s holdings in Illinois Tool Works were worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sivia Capital Partners LLC purchased a new stake in shares of Illinois Tool Works during the first quarter worth approximately $214,000. OneAscent Financial Services LLC lifted its stake in Illinois Tool Works by 25.8% in the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after purchasing an additional 341 shares in the last quarter. Modern Wealth Management LLC boosted its holdings in shares of Illinois Tool Works by 8.3% during the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 65 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $946,000. Finally, Advisory Alpha LLC purchased a new position in Illinois Tool Works during the first quarter worth approximately $259,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stifel Nicolaus upped their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a report on Saturday, September 27th. Barclays lifted 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 note on Monday, August 4th. Citigroup increased their price target 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, Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and a consensus target price of $261.58.

Insiders Place Their Bets

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 shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Price Performance

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

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. 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 dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

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.