Schroder Investment Management Group Has $389.45 Million Holdings in Illinois Tool Works Inc. $ITW

Schroder Investment Management Group trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,575,118 shares of the industrial products company’s stock after selling 129,605 shares during the period. Schroder Investment Management Group owned 0.54% of Illinois Tool Works worth $389,448,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ITW. Modern Wealth Management LLC boosted its holdings in shares of Illinois Tool Works by 8.3% during the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after acquiring an additional 65 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Illinois Tool Works by 39.5% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock worth $16,674,000 after purchasing an additional 19,102 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Illinois Tool Works by 17.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company’s stock valued at $4,447,000 after buying an additional 2,647 shares in the last quarter. Swiss National Bank increased its position in Illinois Tool Works by 1.3% during the 2nd quarter. Swiss National Bank now owns 844,000 shares of the industrial products company’s stock worth $208,679,000 after buying an additional 11,200 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Illinois Tool Works by 12.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock worth $938,822,000 after buying an additional 415,982 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. Evercore ISI cut their price target on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research note on Monday, November 17th. Barclays upped their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Finally, Truist Financial lowered their price objective 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 equities 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $263.77.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares in the company, 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 at this hyperlink. Also, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the transaction, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by insiders.

Illinois Tool Works Trading Up 0.1%

Shares of NYSE ITW opened at $249.23 on Friday. The stock has a market cap of $72.30 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $278.98. The firm has a 50 day moving average price of $249.76 and a two-hundred day moving average price of $253.19. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating 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 net margin of 19.05% and a return on equity of 93.26%. Illinois Tool Works’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS 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. Stockholders of record on Wednesday, December 31st will be issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

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.