Illinois Tool Works Inc. $ITW Shares Sold by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 13.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,988 shares of the industrial products company’s stock after selling 297 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Illinois Tool Works were worth $492,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in Illinois Tool Works in the first quarter worth approximately $26,000. SOA Wealth Advisors LLC. grew its position 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 period. Saudi Central Bank purchased a new position in Illinois Tool Works in the first quarter worth approximately $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works in the first quarter worth approximately $30,000. Finally, Banque Transatlantique SA purchased a new position in Illinois Tool Works in the first quarter worth approximately $30,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction 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 transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 0.3%

NYSE:ITW opened at $259.89 on Thursday. The firm has a market cap of $75.76 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 5.62 and a beta of 1.10. The stock has a fifty day moving average price of $261.50 and a 200 day moving average price of $250.98. 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.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating 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 return on equity of 90.89% and a net margin of 21.31%.Illinois Tool Works’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ITW shares. Citigroup increased their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. UBS Group raised their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Barclays raised their price target on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Finally, Truist Financial lowered Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target for the company. in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $260.67.

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.