Illinois Tool Works Inc. $ITW is Coerente Capital Management’s 9th Largest Position

Coerente Capital Management increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,525 shares of the industrial products company’s stock after purchasing an additional 1,718 shares during the quarter. Illinois Tool Works makes up 4.7% of Coerente Capital Management’s portfolio, making the stock its 9th biggest holding. Coerente Capital Management’s holdings in Illinois Tool Works were worth $25,597,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ITW. von Borstel & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the first quarter worth about $26,000. SOA Wealth Advisors LLC. grew its position in shares of Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank purchased a new position in Illinois Tool Works during the 1st quarter valued at approximately $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works during the 1st quarter valued at approximately $30,000. Finally, Banque Transatlantique SA purchased a new position in Illinois Tool Works during the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on ITW shares. Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Truist Financial raised their price objective on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research note on Wednesday. UBS Group raised their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $262.83.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $248.19 on Friday. The stock has a 50 day moving average price of $261.18 and a 200 day moving average price of $251.04. The firm has a market capitalization of $72.35 billion, a P/E ratio of 21.75, a P/E/G ratio of 5.59 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data 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 company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.Illinois Tool Works’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) 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.