Ballast Advisors LLC Has $1.19 Million Stake in Illinois Tool Works Inc. $ITW

Ballast Advisors LLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,820 shares of the industrial products company’s stock after buying an additional 264 shares during the quarter. Ballast Advisors LLC’s holdings in Illinois Tool Works were worth $1,192,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ITW. Auto Owners Insurance Co boosted its holdings in Illinois Tool Works by 55,978.4% during the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock valued at $354,654,000 after acquiring an additional 1,427,450 shares during the period. Nuveen LLC bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $293,928,000. JPMorgan Chase & Co. lifted its stake in shares of Illinois Tool Works by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock valued at $313,734,000 after buying an additional 160,009 shares during the period. Citigroup Inc. lifted its stake in shares of Illinois Tool Works by 50.5% in the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock valued at $92,020,000 after buying an additional 124,443 shares during the period. Finally, Aberdeen Group plc lifted its stake in shares of Illinois Tool Works by 118.7% in the first quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock valued at $54,789,000 after buying an additional 121,141 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms recently weighed in on ITW. UBS Group increased their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Truist Financial increased their target price on Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Barclays increased their target price on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Two equities 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 currently has an average rating of “Reduce” and an average target price of $262.83.

Illinois Tool Works Trading Down 4.5%

ITW stock opened at $245.91 on Friday. The business has a fifty day moving average price of $259.36 and a 200 day moving average price of $251.86. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The stock has a market capitalization of $71.68 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 5.44 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15.

Illinois Tool Works (NYSE:ITW) last released 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 return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period last year, the firm posted $3.91 EPS. 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. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio is presently 62.46%.

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.