Illinois Tool Works Inc. $ITW Position Trimmed by Curbstone Financial Management Corp

Curbstone Financial Management Corp decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,344 shares of the industrial products company’s stock after selling 100 shares during the period. Curbstone Financial Management Corp’s holdings in Illinois Tool Works were worth $1,321,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Huntleigh Advisors Inc. bought a new stake in Illinois Tool Works during the second quarter worth approximately $1,906,000. Nicholson Wealth Management Group LLC raised its holdings in Illinois Tool Works by 3.4% during the second quarter. Nicholson Wealth Management Group LLC now owns 6,079 shares of the industrial products company’s stock worth $1,503,000 after purchasing an additional 201 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its holdings in Illinois Tool Works by 0.4% during the second quarter. Chevy Chase Trust Holdings LLC now owns 147,067 shares of the industrial products company’s stock worth $36,362,000 after purchasing an additional 594 shares in the last quarter. Private Trust Co. NA raised its holdings in Illinois Tool Works by 2.0% during the second quarter. Private Trust Co. NA now owns 3,530 shares of the industrial products company’s stock worth $873,000 after purchasing an additional 70 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its holdings in Illinois Tool Works by 16.6% during the second quarter. Angeles Wealth Management LLC now owns 1,577 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $249.46 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The firm 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. The firm has a 50 day simple moving average of $260.15 and a 200 day simple moving average of $250.87. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion during 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 business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Investors of record on Tuesday, September 30th were paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.44%.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ITW. Citigroup lifted their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. UBS Group upped 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. Finally, Barclays increased their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $262.83.

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.