Voya Investment Management LLC Has $12.64 Million Holdings in Illinois Tool Works Inc. $ITW

Voya Investment Management LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 48,481 shares of the industrial products company’s stock after selling 10,519 shares during the period. Voya Investment Management LLC’s holdings in Illinois Tool Works were worth $12,642,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works in the second quarter valued at approximately $25,000. SOA Wealth Advisors LLC. grew its stake 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 worth $26,000 after purchasing an additional 50 shares during the last quarter. Saudi Central Bank acquired a new stake in Illinois Tool Works in the first quarter valued at $29,000. Banque Transatlantique SA acquired a new position in Illinois Tool Works during the 1st quarter worth about $30,000. Finally, 1248 Management LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter valued at about $30,000. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company cut their price objective on 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. 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 report on Monday, October 27th. Evercore ISI decreased their price target on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a report on Monday, November 17th. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $259.25.

Illinois Tool Works Stock Up 0.6%

Shares of NYSE ITW opened at $251.69 on Tuesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $278.13. The stock has a market capitalization of $73.01 billion, a P/E ratio of 24.41, a P/E/G ratio of 11.14 and a beta of 1.14. The company has a 50-day moving average price of $248.06 and a 200-day moving average price of $253.89.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Insider Buying and Selling

In other news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction 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 $9,625,817.25. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.