Illinois Tool Works Inc. $ITW Shares Purchased by Forum Financial Management LP

Forum Financial Management LP boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 20.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,861 shares of the industrial products company’s stock after buying an additional 310 shares during the quarter. Forum Financial Management LP’s holdings in Illinois Tool Works were worth $460,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank & Trust Co lifted its holdings in Illinois Tool Works by 0.4% during the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after buying an additional 39 shares in the last quarter. TFG Advisers LLC lifted its holdings in Illinois Tool Works by 0.5% during the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 42 shares in the last quarter. Clearstead Trust LLC lifted its holdings in Illinois Tool Works by 0.9% during the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after buying an additional 43 shares in the last quarter. Northern Financial Advisors Inc lifted its holdings in Illinois Tool Works by 1.9% during the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after buying an additional 44 shares in the last quarter. Finally, Woodmont Investment Counsel LLC lifted its holdings in Illinois Tool Works by 2.5% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock worth $446,000 after buying an additional 44 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on ITW shares. UBS Group increased their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Finally, Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $262.83.

Illinois Tool Works Trading Down 4.5%

NYSE ITW opened at $245.91 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The firm’s fifty day moving average price is $259.36 and its 200 day moving average price is $251.86. The company has a market capitalization of $71.68 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 5.44 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The firm 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 21.31% and a return on equity of 90.89%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were paid a dividend of $1.61 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by corporate insiders.

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.