Illinois Tool Works Inc. $ITW Holdings Boosted by PUREfi Wealth LLC

PUREfi Wealth LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,266 shares of the industrial products company’s stock after purchasing an additional 185 shares during the period. PUREfi Wealth LLC’s holdings in Illinois Tool Works were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fenimore Asset Management Inc grew its position in Illinois Tool Works by 0.6% during the 2nd quarter. Fenimore Asset Management Inc now owns 393,529 shares of the industrial products company’s stock worth $97,300,000 after purchasing an additional 2,289 shares in the last quarter. Valeo Financial Advisors LLC grew its position in Illinois Tool Works by 136.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,365 shares of the industrial products company’s stock worth $1,821,000 after purchasing an additional 4,251 shares in the last quarter. DAVENPORT & Co LLC grew its position in Illinois Tool Works by 1.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 28,903 shares of the industrial products company’s stock worth $7,147,000 after purchasing an additional 477 shares in the last quarter. Woodmont Investment Counsel LLC grew its holdings in shares of Illinois Tool Works by 2.5% during the 2nd 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 in the last quarter. Finally, Grimes & Company Inc. grew its holdings in shares of Illinois Tool Works by 4.4% during the 2nd quarter. Grimes & Company Inc. now owns 10,224 shares of the industrial products company’s stock valued at $2,528,000 after acquiring an additional 432 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on ITW shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Saturday, September 27th. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Citigroup boosted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Barclays boosted their price target 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. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $261.58.

Illinois Tool Works Stock Down 0.2%

Illinois Tool Works stock opened at $260.19 on Monday. The firm has a market cap of $75.85 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 5.75 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm has a fifty day moving average price of $261.43 and a two-hundred day moving average price of $250.99.

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

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders 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 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 presently 56.44%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction 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 owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was 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 currently owned by corporate insiders.

Illinois Tool Works Company 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.