Illinois Tool Works Inc. $ITW Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,736,010 shares of the industrial products company’s stock after selling 61,045 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Illinois Tool Works were worth $974,202,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works during the 2nd quarter worth $25,000. SOA Wealth Advisors LLC. lifted its stake in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Corsicana & Co. purchased a new position in Illinois Tool Works in the third quarter valued at $26,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Illinois Tool Works by 103.3% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 63 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $31,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 0.6%

NYSE:ITW opened at $263.56 on Friday. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $278.13. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The stock’s 50 day simple moving average is $250.14 and its 200-day simple moving average is $254.83. The firm has a market cap of $76.46 billion, a P/E ratio of 25.56, a PEG ratio of 14.16 and a beta of 1.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the firm posted $3.91 EPS. Illinois Tool Works’s quarterly revenue was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, December 31st. Illinois Tool Works’s payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

ITW has been the topic of several recent analyst reports. Barclays increased their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Truist Financial cut their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research note on Monday, October 27th. Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Finally, Evercore ISI cut their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a report on Monday, November 17th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $261.08.

About Illinois Tool Works

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.