Mesirow Financial Investment Management Inc. Has $8.21 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Mesirow Financial Investment Management Inc. decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 6.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 33,194 shares of the industrial products company’s stock after selling 2,212 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Illinois Tool Works were worth $8,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank & Trust Co increased its stake in shares of Illinois Tool Works by 0.4% in the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock valued at $2,526,000 after buying an additional 39 shares during the period. TFG Advisers LLC increased its stake in shares of Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 42 shares during the period. Freedom Investment Management Inc. grew its holdings in 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 worth $357,000 after acquiring an additional 42 shares during the period. Clearstead Trust LLC grew its holdings in Illinois Tool Works by 0.9% during the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after acquiring an additional 43 shares during the period. Finally, Northern Financial Advisors Inc grew its holdings in Illinois Tool Works by 1.9% during the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds 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 dated 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 transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 0.6%

Shares of Illinois Tool Works stock opened at $243.48 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The stock has a 50 day moving average price of $258.02 and a two-hundred day moving average price of $252.21. The stock has a market capitalization of $70.63 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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 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 quarter last year, the firm posted $3.91 earnings per share. The company’s revenue for the quarter 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. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research note on Monday. Barclays raised their target price on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday. The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a research note on Monday. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Finally, Wells Fargo & Company decreased 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. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average price target of $262.00.

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.