PFW Advisors LLC Cuts Stock Holdings in Illinois Tool Works Inc. $ITW

PFW Advisors LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,255 shares of the industrial products company’s stock after selling 329 shares during the quarter. PFW Advisors LLC’s holdings in Illinois Tool Works were worth $2,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. DLK Investment Management LLC grew its holdings in shares of Illinois Tool Works by 1.8% during the second quarter. DLK Investment Management LLC now owns 24,466 shares of the industrial products company’s stock worth $6,049,000 after purchasing an additional 440 shares in the last quarter. Hummer Financial Advisory Services Inc grew its holdings in shares of Illinois Tool Works by 10.4% during the second quarter. Hummer Financial Advisory Services Inc now owns 2,540 shares of the industrial products company’s stock worth $632,000 after purchasing an additional 240 shares in the last quarter. Balefire LLC grew its holdings in shares of Illinois Tool Works by 10.6% during the second quarter. Balefire LLC now owns 1,871 shares of the industrial products company’s stock worth $463,000 after purchasing an additional 180 shares in the last quarter. Berkshire Bank grew its holdings in shares of Illinois Tool Works by 2.1% during the second quarter. Berkshire Bank now owns 5,228 shares of the industrial products company’s stock worth $1,293,000 after purchasing an additional 109 shares in the last quarter. Finally, Woodstock Corp lifted its position in Illinois Tool Works by 1.1% in the 2nd quarter. Woodstock Corp now owns 45,559 shares of the industrial products company’s stock worth $11,264,000 after buying an additional 491 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of a number of recent research reports. Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price for the company. in a research report on Thursday, July 31st. Citigroup boosted 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. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Barclays boosted their target price 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, Wells Fargo & Company boosted their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. One investment analyst has 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, the company currently has a consensus rating of “Reduce” and an average target price of $260.67.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $261.90 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The stock has a market cap of $76.34 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 5.69 and a beta of 1.10. The business’s fifty day moving average is $260.95 and its 200 day moving average is $250.82. The company has a quick ratio of 1.15, a current ratio of 1.59 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 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the firm posted $2.54 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. 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 dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is currently 52.59%.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s 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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by insiders.

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.