Regent Peak Wealth Advisors LLC Purchases New Holdings in Illinois Tool Works Inc. $ITW

Regent Peak Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 2,468 shares of the industrial products company’s stock, valued at approximately $644,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Illinois Tool Works by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after buying an additional 335,955 shares during the period. State Street Corp boosted its holdings in shares of Illinois Tool Works by 0.9% in the second quarter. State Street Corp now owns 12,476,310 shares of the industrial products company’s stock valued at $3,103,167,000 after acquiring an additional 108,919 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Illinois Tool Works by 1.9% during the second quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after acquiring an additional 122,990 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Illinois Tool Works by 12.3% in 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 purchasing an additional 415,982 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Illinois Tool Works by 2.3% during the 2nd quarter. Fisher Asset Management LLC now owns 3,595,146 shares of the industrial products company’s stock worth $888,900,000 after buying an additional 80,527 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports 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 for the company in a research report on Monday, October 27th. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their price target for the company from $220.00 to $255.00 in a report on Tuesday, November 18th. Evercore ISI lowered their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research report on Monday, November 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Finally, Barclays lifted their price objective on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $259.25.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of the business’s 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 completion of the transaction, the director owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $251.95 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The firm has a market capitalization of $73.09 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 11.22 and a beta of 1.14. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $278.13. The company has a 50 day moving average price of $248.32 and a 200 day moving average price of $253.89.

Illinois Tool Works (NYSE:ITW) last announced its earnings results 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 business had revenue of $4.06 billion for 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 revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders 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 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is 62.46%.

Illinois Tool Works Company Profile

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.