Modera Wealth Management LLC Grows Holdings in Illinois Tool Works Inc. $ITW

Modera Wealth Management LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,417 shares of the industrial products company’s stock after buying an additional 204 shares during the period. Modera Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,339,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after acquiring an additional 277 shares during the period. Bison Wealth LLC increased its position in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares during the last quarter. Genus Capital Management Inc. bought a new stake in shares of Illinois Tool Works during the 1st quarter worth $893,000. Fidelis Capital Partners LLC boosted its holdings in shares of Illinois Tool Works by 11.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,558 shares of the industrial products company’s stock worth $852,000 after buying an additional 360 shares during the last quarter. Finally, Xponance Inc. grew its position in Illinois Tool Works by 1.8% during the first quarter. Xponance Inc. now owns 51,741 shares of the industrial products company’s stock valued at $12,832,000 after buying an additional 905 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $245.47 on Friday. The firm has a 50 day moving average of $255.34 and a 200-day moving average of $252.89. The firm has a market capitalization of $71.21 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39.

Illinois Tool Works (NYSE:ITW) last posted 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. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the company posted $3.91 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Insider Activity

In other 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of the company’s 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 approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on ITW shares. The Goldman Sachs Group set a $258.00 price objective on shares of Illinois Tool Works in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Stifel Nicolaus increased their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Truist Financial decreased their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and a consensus target price of $262.00.

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.