Prospera Financial Services Inc Sells 917 Shares of Illinois Tool Works Inc. $ITW

Prospera Financial Services Inc cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,405 shares of the industrial products company’s stock after selling 917 shares during the period. Prospera Financial Services Inc’s holdings in Illinois Tool Works were worth $6,284,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ITW. OneAscent Financial Services LLC grew its holdings in Illinois Tool Works by 25.8% in the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after buying an additional 341 shares in the last quarter. Modern Wealth Management LLC grew its stake in shares of Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 65 shares in the last quarter. Nordea Investment Management AB increased its position in Illinois Tool Works by 9.5% during the second quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock worth $9,605,000 after acquiring an additional 3,388 shares during the period. Advisory Alpha LLC acquired a new stake in Illinois Tool Works in the 1st quarter worth about $259,000. Finally, Global X Japan Co. Ltd. boosted its holdings in Illinois Tool Works by 8.3% in the 2nd quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock valued at $624,000 after purchasing an additional 193 shares during the period. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of a number of analyst reports. Citigroup lifted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. The Goldman Sachs Group set a $258.00 price target on Illinois Tool Works in a research report on Monday, October 27th. 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, October 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $262.00.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’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 transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the transaction, the director owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $245.47 on Friday. The business has a fifty day simple moving average of $255.34 and a 200 day simple moving average of $252.89. The company has a market cap of $71.21 billion, a P/E ratio of 23.81, a P/E/G ratio of 4.10 and a beta of 1.11. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 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 the consensus estimate of $4.09 billion. During the same quarter in the previous year, the firm earned $3.91 earnings per share. The business’s quarterly 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, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Illinois Tool Works 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.