Illinois Tool Works Inc. $ITW Holdings Decreased by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,629 shares of the industrial products company’s stock after selling 200 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Illinois Tool Works were worth $650,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works in the 1st quarter valued at approximately $26,000. SOA Wealth Advisors LLC. grew its holdings in shares of Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Illinois Tool Works in the first quarter worth $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works during the first quarter worth $30,000. Finally, Banque Transatlantique SA acquired a new stake in Illinois Tool Works during the first quarter valued at $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the sale, the chief accounting officer directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup upped their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research 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 research note on Tuesday, August 19th. Stifel Nicolaus increased their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Truist Financial lifted their target price on shares of Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted 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. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $262.83.

Illinois Tool Works Stock Down 0.1%

Shares of ITW stock opened at $244.59 on Tuesday. The stock’s 50 day simple moving average is $260.86 and its 200 day simple moving average is $250.92. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month 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. The company has a market capitalization of $71.30 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 5.41 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced 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. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company posted $2.54 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, research 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 announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works’s payout ratio is 56.44%.

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.