W.H. Cornerstone Investments Inc. Acquires 467 Shares of Illinois Tool Works Inc. $ITW

W.H. Cornerstone Investments Inc. boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,956 shares of the industrial products company’s stock after buying an additional 467 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Illinois Tool Works were worth $978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Frazier Financial Advisors LLC purchased a new position in Illinois Tool Works during the 2nd quarter worth $25,000. SOA Wealth Advisors LLC. raised its position in 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 valued at $26,000 after purchasing an additional 50 shares during the period. Saudi Central Bank purchased a new stake in Illinois Tool Works during the first quarter worth about $29,000. 1248 Management LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at about $30,000. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction 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 sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value 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 SEC filing for this sale provides additional information. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. UBS Group lifted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Robert W. Baird set a $265.00 target price on shares of Illinois Tool Works in a research note on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Finally, Truist Financial decreased their price target on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $262.00.

Illinois Tool Works Stock Performance

ITW traded up $0.26 on Thursday, hitting $245.69. The company’s stock had a trading volume of 86,625 shares, compared to its average volume of 1,075,438. The company’s 50 day simple moving average is $254.28 and its 200-day simple moving average is $253.00. The firm has a market cap of $71.27 billion, a P/E ratio of 23.83, 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 quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period last year, the firm earned $3.91 earnings per share. The company’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. Analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

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

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.