Illinois Tool Works Inc. $ITW Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,723,774 shares of the industrial products company’s stock after acquiring an additional 335,955 shares during the quarter. Vanguard Group Inc. owned about 9.17% of Illinois Tool Works worth $6,607,453,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ITW. Frazier Financial Advisors LLC purchased a new position in shares of Illinois Tool Works during the second quarter worth about $25,000. SOA Wealth Advisors LLC. boosted its position in shares of Illinois Tool Works by 90.9% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Saudi Central Bank purchased a new position in Illinois Tool Works during the 1st quarter worth approximately $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works during the 1st quarter worth approximately $30,000. Finally, Banque Transatlantique SA acquired a new position in Illinois Tool Works during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $241.90 on Wednesday. The stock has a market capitalization of $70.18 billion, a P/E ratio of 23.46, a P/E/G ratio of 4.10 and a beta of 1.11. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company’s fifty day moving average is $252.52 and its two-hundred day moving average is $253.16.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business had revenue of $4.06 billion for 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% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm 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 dividend of $1.61 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.7%. Illinois Tool Works’s payout ratio is presently 62.46%.

Insider Buying and Selling

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was 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 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction that occurred on 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ITW. Truist Financial decreased their price objective 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. Wells Fargo & Company decreased 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 research note on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Finally, UBS Group increased their target price on shares of 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, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $264.69.

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.