Illinois Tool Works Inc. $ITW Shares Purchased by Appleton Partners Inc. MA

Appleton Partners Inc. MA boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 21.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,768 shares of the industrial products company’s stock after buying an additional 313 shares during the quarter. Appleton Partners Inc. MA’s holdings in Illinois Tool Works were worth $437,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ITW. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works during the first quarter valued at about $26,000. SOA Wealth Advisors LLC. grew its position in Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Saudi Central Bank purchased a new position in shares of Illinois Tool Works in the first quarter worth $29,000. 1248 Management LLC acquired a new stake in shares of Illinois Tool Works during the first quarter worth $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ITW shares. Deutsche Bank Aktiengesellschaft boosted 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, October 2nd. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Citigroup raised their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Barclays upped their price objective 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, Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a report on Saturday, September 27th. Two equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $261.58.

Illinois Tool Works Stock Performance

ITW opened at $258.76 on Tuesday. The firm has a fifty day moving average price of $261.41 and a 200 day moving average price of $251.05. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The stock has a market cap of $75.43 billion, a P/E ratio of 22.68, 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 (NYSE:ITW) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating 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 company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the company earned $2.54 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current 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 given a dividend of $1.61 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.44%.

Insider Buying and Selling

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on 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 directly 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.88% of the company’s stock.

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.