Eliot Finkel Investment Counsel LLC Decreases Stock Position in Illinois Tool Works Inc. $ITW

Eliot Finkel Investment Counsel LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 26,770 shares of the industrial products company’s stock after selling 280 shares during the period. Illinois Tool Works makes up about 4.3% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its 8th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Illinois Tool Works were worth $6,619,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. von Borstel & Associates Inc. bought a new position in Illinois Tool Works in the 1st quarter valued at $26,000. SOA Wealth Advisors LLC. lifted its stake in shares of Illinois Tool Works by 90.9% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Saudi Central Bank acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $29,000. 1248 Management LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $30,000. 79.77% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ITW shares. Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target on the stock. in a research note on Thursday, July 31st. UBS Group increased their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Barclays increased their price target on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft increased their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus target price of $261.58.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $260.19 on Friday. The company has a market capitalization of $75.85 billion, a PE ratio of 22.80, a PEG ratio of 5.61 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The stock’s fifty day simple moving average is $261.43 and its 200 day simple moving average is $251.01.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the business posted $2.54 EPS. The firm’s 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. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is 56.44%.

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.