Blue Trust Inc. Decreases Position in Illinois Tool Works Inc. $ITW

Blue Trust Inc. lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,902 shares of the industrial products company’s stock after selling 78 shares during the period. Blue Trust Inc.’s holdings in Illinois Tool Works were worth $1,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ITW. Brighton Jones LLC lifted its holdings in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares during the last quarter. Bison Wealth LLC raised its stake in Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after acquiring an additional 81 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Illinois Tool Works by 19.9% in the 1st quarter. Farther Finance Advisors LLC now owns 3,359 shares of the industrial products company’s stock worth $835,000 after acquiring an additional 557 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in Illinois Tool Works in the 1st quarter worth $363,000. Finally, Wealthcare Advisory Partners LLC raised its stake in Illinois Tool Works by 1.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,055 shares of the industrial products company’s stock worth $1,006,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

NYSE ITW opened at $244.79 on Friday. The stock has a 50-day simple moving average of $261.04 and a two-hundred day simple moving average of $250.97. The firm has a market capitalization of $71.36 billion, a P/E ratio of 21.45, a PEG ratio of 5.49 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the firm earned $2.54 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.61 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is 56.44%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ITW shares. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday. 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. Citigroup raised their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Wells Fargo & Company raised their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Finally, Barclays lifted their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $262.83.

Illinois Tool Works 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.