CENTRAL TRUST Co Has $2.40 Million Holdings in Illinois Tool Works Inc. $ITW

CENTRAL TRUST Co lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 42.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,697 shares of the industrial products company’s stock after purchasing an additional 2,908 shares during the quarter. CENTRAL TRUST Co’s holdings in Illinois Tool Works were worth $2,398,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works during the 2nd quarter worth $25,000. SOA Wealth Advisors LLC. lifted its position in shares of Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth $29,000. 1248 Management LLC bought a new position in shares of Illinois Tool Works in the first quarter worth $30,000. Finally, Banque Transatlantique SA acquired a new position in Illinois Tool Works in the first quarter valued at about $30,000. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ITW has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. Truist Financial reduced their price target on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. The Goldman Sachs Group set a $258.00 price objective on shares of Illinois Tool Works in a research report on Monday, October 27th. Finally, UBS Group upped their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $262.00.

Illinois Tool Works Trading Up 0.4%

ITW opened at $245.24 on Wednesday. The company’s 50 day moving average price is $254.59 and its two-hundred day moving average price is $253.06. The firm has a market capitalization of $71.14 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 4.10 and a beta of 1.11. 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 current ratio of 1.53 and a quick ratio of 1.11.

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. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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 paid a $1.61 dividend. The ex-dividend date of this dividend 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 is presently 62.46%.

Insider Transactions at Illinois Tool Works

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