Sage Mountain Advisors LLC Sells 278 Shares of Illinois Tool Works Inc. $ITW

Sage Mountain Advisors LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 10.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,451 shares of the industrial products company’s stock after selling 278 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Illinois Tool Works were worth $606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Moment Partners LLC lifted its stake in shares of Illinois Tool Works by 2.2% in the 2nd quarter. Moment Partners LLC now owns 3,198 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 70 shares during the period. West Michigan Advisors LLC increased its holdings in Illinois Tool Works by 6.8% during the second quarter. West Michigan Advisors LLC now owns 881 shares of the industrial products company’s stock valued at $219,000 after buying an additional 56 shares during the last quarter. Turning Point Benefit Group Inc. raised its position in Illinois Tool Works by 6.8% in the second quarter. Turning Point Benefit Group Inc. now owns 1,431 shares of the industrial products company’s stock worth $354,000 after acquiring an additional 91 shares during the period. Strategic Blueprint LLC boosted its stake in shares of Illinois Tool Works by 73.7% during the 2nd quarter. Strategic Blueprint LLC now owns 1,945 shares of the industrial products company’s stock worth $481,000 after acquiring an additional 825 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its position in shares of Illinois Tool Works by 3.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ITW shares. Wells Fargo & Company lifted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. UBS Group lifted 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. Truist Financial increased their price objective on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Finally, 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 research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average target price of $262.83.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Trading Down 4.5%

Shares of Illinois Tool Works stock opened at $245.91 on Friday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The business has a 50-day moving average price of $259.36 and a 200-day moving average price of $251.86. The firm has a market cap of $71.68 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 5.44 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the company earned $3.91 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS 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. Investors of record on Tuesday, September 30th were given a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 62.46%.

Illinois Tool Works 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.