Austin Private Wealth LLC Acquires 110 Shares of Illinois Tool Works Inc. $ITW

Austin Private Wealth LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,314 shares of the industrial products company’s stock after acquiring an additional 110 shares during the quarter. Austin Private Wealth LLC’s holdings in Illinois Tool Works were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Bank & Trust Co grew its stake in shares of 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 acquiring an additional 39 shares in the last quarter. TFG Advisers LLC grew its stake in shares of 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 acquiring an additional 42 shares in the last quarter. Freedom Investment Management Inc. grew its stake in shares of Illinois Tool Works by 3.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 42 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of Illinois Tool Works by 0.9% in the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after buying an additional 43 shares in the last quarter. Finally, Northern Financial Advisors Inc grew its stake in shares of Illinois Tool Works by 1.9% in the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock valued at $582,000 after buying an additional 44 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other 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 owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 1.6%

Shares of Illinois Tool Works stock opened at $241.96 on Thursday. The business has a fifty day simple moving average of $258.37 and a two-hundred day simple moving average of $252.27. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a market capitalization of $70.19 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 4.16 and a beta of 1.10. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11.

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 (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter last year, the firm posted $3.91 EPS. The company’s quarterly 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. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued 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 2.7%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial decreased their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday. Citigroup raised their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Wells Fargo & Company decreased their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Finally, Barclays raised their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday. Two investment 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, Illinois Tool Works has a consensus rating of “Reduce” and a consensus target price of $262.00.

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.