Huntleigh Advisors Inc. Makes New $1.91 Million Investment in Illinois Tool Works Inc. $ITW

Huntleigh Advisors Inc. acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, HoldingsChannel reports. The fund acquired 7,707 shares of the industrial products company’s stock, valued at approximately $1,906,000.

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

Insider Activity

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 value of $1,803,074.16. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group increased their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Wells Fargo & Company increased their target price on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus increased their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Stock Up 1.0%

NYSE ITW opened at $249.46 on Friday. The business has a fifty day moving average price of $260.15 and a 200 day moving average price of $250.87. Illinois Tool Works Inc. has a one year low of $214.66 and a one year 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 cap of $72.72 billion, a P/E ratio of 21.86, a P/E/G ratio of 5.46 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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 firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the company earned $2.54 EPS. The firm’s revenue 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. Research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio is 56.44%.

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.