Creekmur Asset Management LLC Buys 191 Shares of Illinois Tool Works Inc. $ITW

Creekmur Asset Management LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,374 shares of the industrial products company’s stock after buying an additional 191 shares during the quarter. Creekmur Asset Management LLC’s holdings in Illinois Tool Works were worth $340,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank & Trust Co lifted its position 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 buying an additional 39 shares during the period. TFG Advisers LLC lifted its position 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 buying an additional 42 shares during the period. Freedom Investment Management Inc. lifted its position 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 buying an additional 42 shares during the period. Clearstead Trust LLC lifted its position in shares of Illinois Tool Works by 0.9% during the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after buying an additional 43 shares during the period. Finally, Northern Financial Advisors Inc lifted its position in shares of Illinois Tool Works by 1.9% during the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after buying an additional 44 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.2%

ITW stock opened at $244.08 on Friday. The company has a market cap of $70.81 billion, a P/E ratio of 23.67, a PEG ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. 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 business has a fifty day moving average of $257.51 and a 200-day moving average of $252.28.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced 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 is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is presently 62.46%.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s 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 in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ITW shares. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday. Stifel Nicolaus raised their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Barclays lifted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a report on Monday. Finally, Truist Financial cut their price target 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 research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average 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.