Journey Strategic Wealth LLC Purchases New Shares in Illinois Tool Works Inc. $ITW

Journey Strategic Wealth LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,469 shares of the industrial products company’s stock, valued at approximately $363,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mediolanum International Funds Ltd grew its position in Illinois Tool Works by 7.8% in the 2nd quarter. Mediolanum International Funds Ltd now owns 93,423 shares of the industrial products company’s stock worth $23,175,000 after purchasing an additional 6,787 shares in the last quarter. MAI Capital Management boosted its stake in shares of Illinois Tool Works by 6.0% in the 2nd quarter. MAI Capital Management now owns 11,405 shares of the industrial products company’s stock worth $2,820,000 after buying an additional 642 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Illinois Tool Works in the second quarter valued at approximately $3,618,000. Swiss National Bank increased its position in shares of Illinois Tool Works by 1.3% during the second quarter. Swiss National Bank now owns 844,000 shares of the industrial products company’s stock valued at $208,679,000 after acquiring an additional 11,200 shares during the last quarter. Finally, Prudential PLC lifted its holdings in Illinois Tool Works by 255.9% during the second quarter. Prudential PLC now owns 16,257 shares of the industrial products company’s stock worth $4,020,000 after acquiring an additional 11,689 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $247.79 on Monday. The firm has a market cap of $71.88 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The company’s 50 day moving average is $251.26 and its 200-day moving average is $253.21. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released 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 business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the previous year, the business earned $3.91 EPS. Illinois Tool Works’s 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. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred 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 approximately $2,734,035.12. The trade was 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. Also, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were 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. The trade was a 3.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. The Goldman Sachs Group set a $258.00 price objective on Illinois Tool Works in a research note on Monday, October 27th. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research report on Monday, October 27th. Evercore ISI decreased their price objective on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a report on Monday, November 17th. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $255.00 in a research report on Tuesday, November 18th. Finally, Truist Financial reduced their target price on shares of 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. Two 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $263.77.

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.