TIAA Trust National Association Sells 759 Shares of Illinois Tool Works Inc. $ITW

TIAA Trust National Association lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,315 shares of the industrial products company’s stock after selling 759 shares during the period. TIAA Trust National Association’s holdings in Illinois Tool Works were worth $6,753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Illinois Tool Works by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock worth $627,176,000 after buying an additional 11,854 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Illinois Tool Works by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock worth $513,994,000 after acquiring an additional 13,354 shares during the period. Invesco Ltd. increased its holdings in shares of Illinois Tool Works by 4.7% during the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after acquiring an additional 91,359 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Illinois Tool Works by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock valued at $435,508,000 after acquiring an additional 45,316 shares during the period. Finally, Amundi lifted its holdings in Illinois Tool Works by 1.1% during the 1st quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock valued at $383,828,000 after purchasing an additional 17,119 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’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 transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $244.08 on Monday. The company has a market cap of $70.81 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a fifty day moving average price of $257.51 and a 200-day moving average price of $252.58.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results 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 business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the firm earned $3.91 earnings per share. Illinois Tool Works’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 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company 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 dividend of $1.61 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. UBS Group increased their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a report on Monday, October 27th. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Finally, Truist Financial dropped their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus 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.