Motco Sells 224 Shares of Illinois Tool Works Inc. $ITW

Motco lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 20.1% during the second quarter, Holdings Channel reports. The firm owned 890 shares of the industrial products company’s stock after selling 224 shares during the period. Motco’s holdings in Illinois Tool Works were worth $228,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Austin Private Wealth LLC lifted its holdings in shares of Illinois Tool Works by 9.1% in the second quarter. Austin Private Wealth LLC now owns 1,314 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 110 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in Illinois Tool Works by 1.0% during the second quarter. New York Life Investment Management LLC now owns 40,321 shares of the industrial products company’s stock worth $9,969,000 after acquiring an additional 386 shares during the period. Howard Capital Management Inc. lifted its holdings in Illinois Tool Works by 14.9% during the second quarter. Howard Capital Management Inc. now owns 1,941 shares of the industrial products company’s stock worth $483,000 after acquiring an additional 252 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Illinois Tool Works by 1.0% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 4,846 shares of the industrial products company’s stock worth $1,198,000 after acquiring an additional 50 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Illinois Tool Works by 27.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 61,052 shares of the industrial products company’s stock worth $15,095,000 after acquiring an additional 13,100 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 1.6%

Shares of ITW stock opened at $241.96 on Thursday. 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 business has a 50-day moving average price of $258.37 and a two-hundred day moving average price of $252.27. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The firm has a market cap of $70.19 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 4.16 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the company posted $3.91 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. 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 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent analyst reports. UBS Group lifted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Barclays lifted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday. Citigroup boosted their target price 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. Wells Fargo & Company reduced their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday. Finally, 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 report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $262.00.

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.