Fulton Breakefield Broenniman LLC Lowers Stock Position in Illinois Tool Works Inc. $ITW

Fulton Breakefield Broenniman LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,225 shares of the industrial products company’s stock after selling 263 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Illinois Tool Works were worth $1,786,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ITW. Bank & Trust Co lifted its holdings in Illinois Tool Works by 0.4% in the second 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 during the period. TFG Advisers LLC lifted its holdings in Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 42 shares during the period. Clearstead Trust LLC lifted its holdings in Illinois Tool Works by 0.9% in the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after acquiring an additional 43 shares during the period. Northern Financial Advisors Inc lifted its holdings in Illinois Tool Works by 1.9% in the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock valued at $582,000 after acquiring an additional 44 shares during the period. Finally, Woodmont Investment Counsel LLC lifted its holdings in Illinois Tool Works by 2.5% in the second quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock valued at $446,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 1.1%

Shares of ITW stock opened at $252.91 on Thursday. The firm has a 50-day moving average price of $261.33 and a 200 day moving average price of $251.09. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company has a market capitalization of $73.72 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 5.65 and a beta of 1.10. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ITW shares. Stifel Nicolaus raised their target price 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 raised their target price on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. UBS Group lifted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted 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, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday. Two 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 MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $262.83.

Insider Buying and Selling

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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by company 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.