Safe Harbor Fiduciary LLC Has $2.48 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Safe Harbor Fiduciary LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 9.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,030 shares of the industrial products company’s stock after acquiring an additional 835 shares during the quarter. Illinois Tool Works makes up about 2.3% of Safe Harbor Fiduciary LLC’s portfolio, making the stock its 12th largest holding. Safe Harbor Fiduciary LLC’s holdings in Illinois Tool Works were worth $2,480,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works during the 2nd quarter worth $25,000. SOA Wealth Advisors LLC. increased its stake in shares of 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 valued at $26,000 after buying an additional 50 shares during the period. Saudi Central Bank acquired a new position in shares of Illinois Tool Works in the first quarter worth approximately $29,000. 1248 Management LLC bought a new stake in Illinois Tool Works in the first quarter valued at approximately $30,000. Finally, Banque Transatlantique SA bought a new stake in Illinois Tool Works in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insiders Place Their Bets

In other 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 completion of the sale, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale is available in the SEC filing. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $249.27 on Thursday. The business has a 50-day simple moving average of $250.30 and a 200 day simple moving average of $253.22. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. 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 firm has a market capitalization of $72.31 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 4.10 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results 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. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a $1.61 dividend. The ex-dividend date of this dividend 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 presently 62.46%.

Analyst Ratings Changes

ITW has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $258.00 price target on shares of Illinois Tool Works in a research report on Monday, October 27th. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $220.00 to $255.00 in a report on Tuesday, November 18th. Wells Fargo & Company lowered their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. Evercore ISI dropped their price objective on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Finally, 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 note on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, eight have given 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 a consensus price target of $263.77.

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.