Clark & Stuart Inc Decreases Stock Holdings in Illinois Tool Works Inc. $ITW

Clark & Stuart Inc decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.6% during the second quarter, Holdings Channel reports. The firm owned 6,124 shares of the industrial products company’s stock after selling 505 shares during the quarter. Illinois Tool Works comprises about 1.1% of Clark & Stuart Inc’s holdings, making the stock its 25th biggest position. Clark & Stuart Inc’s holdings in Illinois Tool Works were worth $1,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Seamount Financial Group Inc. raised its stake in Illinois Tool Works by 3.4% during the 2nd quarter. Seamount Financial Group Inc. now owns 3,488 shares of the industrial products company’s stock valued at $862,000 after buying an additional 114 shares during the last quarter. Mraz Amerine & Associates Inc. bought a new stake in shares of Illinois Tool Works in the second quarter worth $457,000. Belpointe Asset Management LLC increased its position in Illinois Tool Works by 10.2% during the second quarter. Belpointe Asset Management LLC now owns 3,724 shares of the industrial products company’s stock valued at $921,000 after acquiring an additional 346 shares during the last quarter. Confluence Wealth Services Inc. lifted its holdings in Illinois Tool Works by 5.3% in the second quarter. Confluence Wealth Services Inc. now owns 4,128 shares of the industrial products company’s stock valued at $1,020,000 after acquiring an additional 207 shares during the period. Finally, Appleton Partners Inc. MA boosted its position in Illinois Tool Works by 21.5% in the second quarter. Appleton Partners Inc. MA now owns 1,768 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 313 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $258.76 on Tuesday. The stock has a market cap of $75.43 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 5.75 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm has a fifty day moving average price of $261.41 and a 200-day moving average price of $251.05. 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 (NYSE:ITW) last released its 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. The company had revenue of $4.05 billion for 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 revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is currently 56.44%.

Insider Activity

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 transaction of $1,803,074.16. Following the sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ITW shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Truist Financial cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price for the company. in a report on Thursday, July 31st. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research report on Saturday, September 27th. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Two equities research 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. According to data from MarketBeat, Illinois Tool Works has an average rating of “Reduce” and an average target price of $261.58.

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.