Illinois Tool Works Inc. $ITW Shares Acquired by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 21.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,385 shares of the industrial products company’s stock after purchasing an additional 600 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Illinois Tool Works were worth $837,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares during the period. Bison Wealth LLC raised its position in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after purchasing an additional 81 shares during the period. Diversified Trust Co increased its position in Illinois Tool Works by 6.8% in the first quarter. Diversified Trust Co now owns 1,638 shares of the industrial products company’s stock worth $406,000 after buying an additional 104 shares during the period. Transcend Capital Advisors LLC increased its position in Illinois Tool Works by 14.8% in the first quarter. Transcend Capital Advisors LLC now owns 1,025 shares of the industrial products company’s stock worth $254,000 after buying an additional 132 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Illinois Tool Works by 12.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company’s stock worth $10,242,000 after buying an additional 4,560 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ITW has been the topic of several analyst reports. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research note on Monday. UBS Group lifted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Truist Financial dropped their price target on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Monday. Finally, Stifel Nicolaus boosted their price objective 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. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $262.00.

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 stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 0.9%

Shares of Illinois Tool Works stock opened at $247.85 on Tuesday. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The stock’s fifty day moving average is $259.13 and its 200-day moving average is $252.07. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $72.25 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 5.42 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the business earned $3.91 EPS. The company’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 analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current 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 dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works’s payout ratio 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.