JPMorgan Chase & Co. Has $247.50 Million Holdings in Illinois Tool Works Inc. $ITW

JPMorgan Chase & Co. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 20.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,938 shares of the industrial products company’s stock after selling 264,067 shares during the quarter. JPMorgan Chase & Co.’s holdings in Illinois Tool Works were worth $247,498,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ITW. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works in the 2nd quarter worth approximately $25,000. SOA Wealth Advisors LLC. lifted its holdings in shares of Illinois Tool Works by 90.9% in the second 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 in the last quarter. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works in the first quarter worth $29,000. 1248 Management LLC purchased a new position in shares of Illinois Tool Works during the first quarter valued at $30,000. Finally, Banque Transatlantique SA acquired a new position in Illinois Tool Works during the first quarter valued at $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In other Illinois Tool Works 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 transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director owned 39,249 shares of the company’s stock, valued at $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW opened at $248.64 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 has a market capitalization of $72.13 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The company has a 50 day moving average price of $250.57 and a two-hundred day moving average price of $253.25.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared 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 of this dividend is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is currently 62.46%.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a report on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Barclays lifted their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Finally, Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Monday, October 27th. Two equities research 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’s stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $263.77.

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.