Premier Path Wealth Partners LLC Has $598,000 Stock Holdings in Illinois Tool Works Inc. $ITW

Premier Path Wealth Partners LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,417 shares of the industrial products company’s stock after selling 73 shares during the period. Premier Path Wealth Partners LLC’s holdings in Illinois Tool Works were worth $598,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth approximately $25,000. von Borstel & Associates Inc. acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $26,000. SOA Wealth Advisors LLC. boosted its position in 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 first quarter valued at approximately $29,000. Finally, 1248 Management LLC acquired a new stake in Illinois Tool Works in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $243.48 on Friday. The firm has a market cap 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. The firm’s fifty day moving average is $258.02 and its 200-day moving average is $252.21. 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.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. Illinois Tool Works’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated 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 completion of the sale, the chief accounting officer directly owned 10,314 shares in the company, 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 SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ITW shares. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research note on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently 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.