Bank of Montreal Can Decreases Holdings in Illinois Tool Works Inc. $ITW

Bank of Montreal Can decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,993 shares of the industrial products company’s stock after selling 48,184 shares during the quarter. Bank of Montreal Can owned 0.15% of Illinois Tool Works worth $108,047,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ITW. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $25,000. SOA Wealth Advisors LLC. raised its position in shares of Illinois Tool Works by 90.9% during the 2nd 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 last quarter. Saudi Central Bank acquired a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $29,000. 1248 Management LLC acquired a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were 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 filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. The Goldman Sachs Group set a $258.00 price objective on Illinois Tool Works in a research report on Monday, October 27th. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Citigroup boosted their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a report on Monday, October 27th. Finally, UBS Group boosted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $262.00.

Illinois Tool Works Trading Down 0.4%

Shares of ITW opened at $242.83 on Tuesday. 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 fifty day moving average of $257.03 and a two-hundred day moving average of $252.67. The company has a market capitalization of $70.44 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53.

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 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 company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the company earned $3.91 EPS. The business’s quarterly revenue 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, 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 disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders 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 dividend yield of 2.7%. Illinois Tool Works’s payout ratio is currently 62.46%.

About Illinois Tool Works

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.