Sax Wealth Advisors LLC Buys New Position in Illinois Tool Works Inc. $ITW

Sax Wealth Advisors LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 1,207 shares of the industrial products company’s stock, valued at approximately $298,000.

Other hedge funds have also modified their holdings of the company. OneAscent Financial Services LLC raised its holdings 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 valued at $416,000 after buying an additional 341 shares during the period. Modern Wealth Management LLC raised its holdings 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 valued at $210,000 after buying an additional 65 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $946,000. Advisory Alpha LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $259,000. Finally, Global X Japan Co. Ltd. grew its stake in 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 valued at $624,000 after purchasing an additional 193 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

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 stock was 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 in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of recent analyst reports. Barclays raised their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Citigroup raised their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday. Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Finally, Truist Financial raised their price objective on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Price Performance

Shares of ITW opened at $248.19 on Friday. The firm has a market cap of $72.35 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 5.59 and a beta of 1.10. The stock has a 50 day moving average of $261.18 and a 200-day moving average of $251.04. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.61 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is presently 56.44%.

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.