Tyche Wealth Partners LLC Trims Holdings in Illinois Tool Works Inc. $ITW

Tyche Wealth Partners LLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,270 shares of the industrial products company’s stock after selling 376 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Illinois Tool Works were worth $1,798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank & Trust Co boosted its stake in shares of Illinois Tool Works by 0.4% during the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 39 shares during the last quarter. TFG Advisers LLC boosted its position in shares of Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 42 shares during the last quarter. Clearstead Trust LLC boosted its position in shares of Illinois Tool Works by 0.9% in the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after acquiring an additional 43 shares during the last quarter. Northern Financial Advisors Inc boosted its position in shares of Illinois Tool Works by 1.9% in the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 44 shares during the last quarter. Finally, Woodmont Investment Counsel LLC boosted its position in shares of Illinois Tool Works by 2.5% in the second quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ITW shares. Citigroup raised their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Stifel Nicolaus raised 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. UBS Group raised their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Saturday, September 27th. Two investment analysts have 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. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $261.58.

Insider Activity

In other 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 transaction of $1,803,074.16. Following the sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Down 0.5%

NYSE ITW opened at $258.76 on Tuesday. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company’s 50 day moving average price is $261.41 and its 200 day moving average price is $251.05. 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 has a market capitalization of $75.43 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 5.75 and a beta of 1.10.

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, beating the consensus estimate of $2.56 by $0.02. The firm 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company 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 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 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s payout ratio is 56.44%.

Illinois Tool Works 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.