Chicago Partners Investment Group LLC Boosts Stake in Illinois Tool Works Inc. $ITW

Chicago Partners Investment Group LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 41.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,350 shares of the industrial products company’s stock after buying an additional 692 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Illinois Tool Works were worth $619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ITW. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $25,000. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works during the 1st quarter worth $26,000. SOA Wealth Advisors LLC. grew its stake in 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 worth $26,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank acquired a new position in Illinois Tool Works during the 1st quarter worth $29,000. Finally, 1248 Management LLC acquired a new position in Illinois Tool Works during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

ITW has been the subject of several analyst reports. UBS Group boosted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Stifel Nicolaus boosted their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Citigroup upped their price objective 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. Deutsche Bank Aktiengesellschaft boosted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Finally, Barclays upped their price target on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $262.83.

Illinois Tool Works Stock Up 1.9%

ITW opened at $257.17 on Wednesday. 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 business has a 50 day simple moving average of $260.00 and a 200-day simple moving average of $251.17. The stock has a market capitalization of $74.96 billion, a P/E ratio of 22.54, a P/E/G ratio of 5.58 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted 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. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. 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.