Level Four Advisory Services LLC Purchases 1,638 Shares of Illinois Tool Works Inc. $ITW

Level Four Advisory Services LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 16.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,680 shares of the industrial products company’s stock after acquiring an additional 1,638 shares during the period. Level Four Advisory Services LLC’s holdings in Illinois Tool Works were worth $2,888,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ITW. Modern Wealth Management LLC grew its holdings in Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 65 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Illinois Tool Works by 39.5% during the second quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock valued at $16,674,000 after purchasing an additional 19,102 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Illinois Tool Works by 17.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company’s stock worth $4,447,000 after purchasing an additional 2,647 shares in the last quarter. Swiss National Bank grew its stake in shares of Illinois Tool Works by 1.3% in the 2nd quarter. Swiss National Bank now owns 844,000 shares of the industrial products company’s stock worth $208,679,000 after buying an additional 11,200 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Illinois Tool Works by 9.5% during the 2nd quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock valued at $9,605,000 after buying an additional 3,388 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Activity

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction dated 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 directly owned 39,249 shares in the company, valued at $9,625,817.25. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $249.23 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. The company has a 50 day moving average price of $249.76 and a 200-day moving average price of $253.19. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $278.98. The firm has a market capitalization of $72.30 billion, a PE ratio of 24.17, a P/E/G ratio of 4.10 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.09. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued 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 yield of 2.6%. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company dropped their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft upped their price target 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. Barclays raised their price objective 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. Truist Financial dropped their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Finally, Evercore ISI reduced their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research report on Monday, November 17th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Reduce” and a consensus target price of $263.77.

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.