Praxis Investment Management Inc. Increases Stake in Illinois Tool Works Inc. $ITW

Praxis Investment Management Inc. boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.9% during the 3rd quarter, Holdings Channel reports. The firm owned 21,159 shares of the industrial products company’s stock after acquiring an additional 2,900 shares during the quarter. Praxis Investment Management Inc.’s holdings in Illinois Tool Works were worth $5,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ITW. Brighton Jones LLC grew its stake in Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares during the last quarter. Bison Wealth LLC grew its position in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after acquiring an additional 81 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Illinois Tool Works by 167.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company’s stock worth $52,000 after buying an additional 132 shares during the period. Vestmark Advisory Solutions Inc. lifted its holdings in Illinois Tool Works by 94.9% during the first quarter. Vestmark Advisory Solutions Inc. now owns 5,948 shares of the industrial products company’s stock valued at $1,475,000 after purchasing an additional 2,896 shares in the last quarter. Finally, Horizon Investments LLC boosted its holdings in Illinois Tool Works by 3.2% in the 1st quarter. Horizon Investments LLC now owns 4,993 shares of the industrial products company’s stock worth $1,238,000 after buying an additional 157 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the sale, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Evercore ISI reduced their price target on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a report on Monday, November 17th. Robert W. Baird set a $265.00 price objective on shares of Illinois Tool Works in a report on Monday, October 27th. The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a research note on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $261.58.

Illinois Tool Works Trading Up 0.3%

NYSE ITW opened at $258.07 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The stock has a market capitalization of $74.87 billion, a P/E ratio of 25.03, a PEG ratio of 11.49 and a beta of 1.14. The firm’s 50-day moving average is $247.85 and its two-hundred day moving average is $253.58. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.13.

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

Illinois Tool Works Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

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.