Illinois Tool Works Inc. $ITW Shares Sold by Simon Quick Advisors LLC

Simon Quick Advisors LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.6% during the 2nd quarter, Holdings Channel reports. The firm owned 2,782 shares of the industrial products company’s stock after selling 263 shares during the period. Simon Quick Advisors LLC’s holdings in Illinois Tool Works were worth $688,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. OneAscent Financial Services LLC boosted its stake in shares of Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after acquiring an additional 341 shares in the last quarter. Modern Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 8.3% during the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after acquiring an additional 65 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Illinois Tool Works by 9.5% during the 2nd quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock worth $9,605,000 after acquiring an additional 3,388 shares in the last quarter. Advisory Alpha LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter worth $259,000. Finally, Global X Japan Co. Ltd. boosted its stake in shares of Illinois Tool Works by 8.3% during the 2nd quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 193 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction 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 approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $244.08 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The business has a fifty day simple moving average of $257.51 and a 200 day simple moving average of $252.28. The firm has a market cap of $70.81 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 4.10 and a beta of 1.10.

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

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research report on Monday. Truist Financial decreased their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday. Finally, Citigroup raised their target price 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. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works 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.