Benjamin Edwards Inc. Has $48.30 Million Stake in Illinois Tool Works Inc. $ITW

Benjamin Edwards Inc. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 195,331 shares of the industrial products company’s stock after buying an additional 2,142 shares during the quarter. Benjamin Edwards Inc.’s holdings in Illinois Tool Works were worth $48,296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank & Trust Co grew its holdings 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 valued at $2,526,000 after acquiring an additional 39 shares in the last quarter. Northcape Wealth Management LLC grew its stake in Illinois Tool Works by 2.1% in the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 40 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in Illinois Tool Works by 4.2% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 988 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 40 shares during the last quarter. TFG Advisers LLC lifted its holdings 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 valued at $2,092,000 after buying an additional 42 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its stake in shares of Illinois Tool Works by 3.0% in the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Barclays lifted their price objective 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, October 27th. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft upped their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Finally, Truist Financial reduced their target price on 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 assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $261.58.

Illinois Tool Works Stock Performance

ITW opened at $258.07 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The stock’s 50 day moving average price is $247.85 and its two-hundred day moving average price is $253.46. The firm has a market capitalization of $74.87 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 11.46 and a beta of 1.14. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $278.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share 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 company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the business earned $3.91 earnings per share. Illinois Tool Works’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. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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 given a dividend of $1.61 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

Insiders Place Their Bets

In related 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 transaction of $373,025.25. Following the transaction, 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 legal filing with the SEC, which is available at this link. 0.88% of the stock is currently owned by company insiders.

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.