Dempze Nancy E Sells 150 Shares of Illinois Tool Works Inc. $ITW

Dempze Nancy E cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,530 shares of the industrial products company’s stock after selling 150 shares during the period. Dempze Nancy E’s holdings in Illinois Tool Works were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

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 second 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 last quarter. TFG Advisers LLC grew its stake in shares of Illinois Tool Works by 0.5% during the second 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 last quarter. Clearstead Trust LLC lifted its holdings in shares of Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after purchasing an additional 43 shares during the period. Northern Financial Advisors Inc lifted its holdings in shares of Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 44 shares during the period. Finally, Woodmont Investment Counsel LLC lifted its holdings in shares of Illinois Tool Works by 2.5% during the second quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 44 shares during the period. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Truist Financial lifted their price target on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday. Barclays boosted their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Finally, Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Trading Down 1.1%

NYSE:ITW opened at $252.91 on Thursday. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The firm has a 50-day moving average of $261.33 and a 200-day moving average of $251.09. The company has a market cap of $73.72 billion, a PE ratio of 22.17, a PEG ratio of 5.65 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm posted $2.54 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities research 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 announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is currently 56.44%.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by corporate insiders.

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.