Frank Rimerman Advisors LLC Trims Stock Holdings in Illinois Tool Works Inc. $ITW

Frank Rimerman Advisors LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,660 shares of the industrial products company’s stock after selling 577 shares during the period. Frank Rimerman Advisors LLC’s holdings in Illinois Tool Works were worth $905,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ITW. Geode Capital Management LLC lifted its holdings in Illinois Tool Works by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after purchasing an additional 122,990 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Illinois Tool Works by 12.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after buying an additional 415,982 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Illinois Tool Works by 0.5% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Illinois Tool Works by 0.6% in the first 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 valued at $513,994,000 after acquiring an additional 13,354 shares during the period. Finally, Invesco Ltd. grew its stake in Illinois Tool Works by 4.7% during the first quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock valued at $504,683,000 after acquiring an additional 91,359 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 value of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction 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 transaction, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 0.2%

NYSE ITW opened at $241.90 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The stock’s 50-day simple moving average is $252.52 and its two-hundred day simple moving average is $253.16. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company has a market capitalization of $70.18 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 4.10 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal 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 paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.7%. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Barclays increased their price objective on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research report on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a report on Monday, October 27th. Finally, Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $264.69.

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.