Keybank National Association OH Has $12.63 Million Holdings in Illinois Tool Works Inc. $ITW

Keybank National Association OH lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 51,096 shares of the industrial products company’s stock after selling 45 shares during the quarter. Keybank National Association OH’s holdings in Illinois Tool Works were worth $12,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $25,000. von Borstel & Associates Inc. acquired a new stake in Illinois Tool Works during the 1st quarter valued at $26,000. SOA Wealth Advisors LLC. increased its stake in shares of 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 valued at $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank acquired a new stake in Illinois Tool Works in the 1st quarter valued at about $29,000. Finally, 1248 Management LLC acquired a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITW. Wells Fargo & Company lowered their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a research report on Monday. The Goldman Sachs Group set a $258.00 price target on shares of Illinois Tool Works in a research report on Monday. Finally, Citigroup lifted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $262.00.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $243.48 on Friday. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. 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 $70.63 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The firm has a fifty day moving average of $258.02 and a 200-day moving average of $252.21.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.09 billion. During the same period in the previous year, the firm earned $3.91 earnings per share. 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. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio is 62.46%.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the company’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 owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

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.