Empowered Funds LLC Has $14.90 Million Stake in Illinois Tool Works Inc. $ITW

Empowered Funds LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 58.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 60,256 shares of the industrial products company’s stock after buying an additional 22,318 shares during the period. Empowered Funds LLC’s holdings in Illinois Tool Works were worth $14,898,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter worth approximately $25,000. SOA Wealth Advisors LLC. lifted 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 worth $26,000 after purchasing an additional 50 shares during the period. Saudi Central Bank bought a new stake in Illinois Tool Works in the 1st quarter valued at $29,000. 1248 Management LLC acquired a new position 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 during the 1st quarter valued at about $30,000. 79.77% of the stock is currently owned by institutional investors.

Insider Transactions at Illinois Tool Works

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 value of $373,025.25. Following the sale, the director directly owned 39,249 shares in the company, valued at $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 SEC, which is available at the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% 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.

Analysts Set New Price Targets

A number of brokerages have commented on ITW. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research note on Monday, October 27th. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Monday, October 27th. Finally, Barclays lifted their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $264.69.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $241.90 on Wednesday. The stock’s fifty day simple moving average is $252.52 and its 200 day simple moving average is $253.16. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $70.18 billion, a PE ratio of 23.46, a PEG 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.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the firm posted $3.91 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid 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 2.7%. 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.