Stratos Wealth Partners LTD. Reduces Stock Position in Illinois Tool Works Inc. $ITW

Stratos Wealth Partners LTD. reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,468 shares of the industrial products company’s stock after selling 867 shares during the period. Stratos Wealth Partners LTD.’s holdings in Illinois Tool Works were worth $6,297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Frazier Financial Advisors LLC purchased a new stake in Illinois Tool Works in the second quarter worth about $25,000. von Borstel & Associates Inc. purchased a new stake in Illinois Tool Works in the first quarter worth about $26,000. SOA Wealth Advisors LLC. lifted its holdings in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after buying an additional 50 shares during the period. Saudi Central Bank purchased a new stake in Illinois Tool Works in the first quarter worth about $29,000. Finally, 1248 Management LLC purchased a new stake in Illinois Tool Works in the first quarter worth about $30,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $249.46 on Friday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The firm has a market cap of $72.72 billion, a P/E ratio of 21.86, a PEG ratio of 5.46 and a beta of 1.10. The company has a 50 day moving average of $260.15 and a 200 day moving average of $250.87. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the business earned $2.54 EPS. The firm’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. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was 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 presently 56.44%.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s 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 completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial raised their price objective on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Barclays lifted 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 report on Monday, August 4th. Citigroup lifted their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their target price 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. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $262.83.

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.