Northern Financial Advisors Inc Sells 296 Shares of Illinois Tool Works Inc. $ITW

Northern Financial Advisors Inc lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,052 shares of the industrial products company’s stock after selling 296 shares during the period. Northern Financial Advisors Inc’s holdings in Illinois Tool Works were worth $507,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank & Trust Co raised its holdings in shares of Illinois Tool Works by 0.4% in the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock valued at $2,526,000 after purchasing an additional 39 shares during the period. TFG Advisers LLC raised its holdings in shares of Illinois Tool Works by 0.5% in the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 42 shares during the period. Clearstead Trust LLC raised its holdings in shares of Illinois Tool Works by 0.9% in the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after purchasing an additional 43 shares during the period. Woodmont Investment Counsel LLC raised its holdings in shares of Illinois Tool Works by 2.5% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 44 shares during the period. Finally, Aspen Investment Management Inc raised its holdings in shares of Illinois Tool Works by 0.7% in the 1st quarter. Aspen Investment Management Inc now owns 6,236 shares of the industrial products company’s stock valued at $1,547,000 after purchasing an additional 45 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research analyst reports. Truist Financial cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price on the stock. in a report on Thursday, July 31st. UBS Group increased their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and an average target price of $261.58.

Illinois Tool Works Stock Down 1.2%

Shares of ITW opened at $255.73 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The firm’s 50 day moving average is $261.34 and its 200-day moving average is $251.08. The stock has a market capitalization of $74.54 billion, a PE ratio of 22.41, a P/E/G ratio of 5.72 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.

Illinois Tool Works (NYSE:ITW) last announced its 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. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company 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. Equities research analysts forecast 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. Investors 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 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 payout ratio is 56.44%.

Insider Transactions at Illinois Tool Works

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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is owned by company insiders.

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.