Illinois Tool Works Inc. $ITW Shares Sold by Candriam S.C.A.

Candriam S.C.A. reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,187 shares of the industrial products company’s stock after selling 3,856 shares during the quarter. Candriam S.C.A.’s holdings in Illinois Tool Works were worth $8,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc raised its holdings in shares of Illinois Tool Works by 118.7% in the 2nd quarter. Impax Asset Management Group plc now owns 7,159 shares of the industrial products company’s stock worth $1,770,000 after purchasing an additional 3,885 shares during the period. Police & Firemen s Retirement System of New Jersey increased its position in Illinois Tool Works by 4.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 44,436 shares of the industrial products company’s stock worth $10,987,000 after purchasing an additional 1,884 shares in the last quarter. Geode Capital Management LLC raised its holdings in Illinois Tool Works by 1.9% in the second quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock valued at $1,670,246,000 after buying an additional 122,990 shares during the period. Forsta AP Fonden lifted its position in Illinois Tool Works by 10.0% during the second quarter. Forsta AP Fonden now owns 102,000 shares of the industrial products company’s stock valued at $25,220,000 after buying an additional 9,300 shares in the last quarter. Finally, KBC Group NV grew its stake in Illinois Tool Works by 3.8% during the second quarter. KBC Group NV now owns 61,149 shares of the industrial products company’s stock worth $15,119,000 after buying an additional 2,257 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $243.75 on Friday. 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 fifty-two week low of $214.66 and a fifty-two week high of $279.13. The business has a 50 day moving average price of $253.42 and a two-hundred day moving average price of $252.97. The firm has a market cap of $70.71 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (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 company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the company posted $3.91 EPS. Illinois Tool Works’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. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ITW shares. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Monday, October 27th. UBS Group boosted their price objective 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. The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a research report on Monday, October 27th. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a report on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $262.00.

Insider Activity

In other news, Director Pamela B. Strobel sold 1,521 shares of the company’s 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 sale, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 trade 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 currently owned by insiders.

About Illinois Tool Works

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.