3,353 Shares in Illinois Tool Works Inc. $ITW Acquired by Hilltop National Bank

Hilltop National Bank acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,353 shares of the industrial products company’s stock, valued at approximately $829,000.

Several other institutional investors have also recently bought and sold shares of ITW. Brighton Jones LLC raised its position in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares during the last quarter. Bison Wealth LLC raised its position in Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after purchasing an additional 81 shares during the last quarter. NBC Securities Inc. bought a new position in Illinois Tool Works in the 1st quarter worth approximately $125,000. Merit Financial Group LLC raised its position in Illinois Tool Works by 13.9% in the 1st quarter. Merit Financial Group LLC now owns 9,384 shares of the industrial products company’s stock worth $2,327,000 after purchasing an additional 1,142 shares during the last quarter. Finally, RFG Advisory LLC raised its position in shares of Illinois Tool Works by 45.3% during the 1st quarter. RFG Advisory LLC now owns 5,078 shares of the industrial products company’s stock valued at $1,259,000 after acquiring an additional 1,583 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ITW shares. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Citigroup upped their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Barclays upped their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Finally, Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $260.67.

Illinois Tool Works Price Performance

ITW opened at $260.51 on Friday. 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 Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a fifty day simple moving average of $261.47 and a 200 day simple moving average of $251.01. The stock has a market cap of $75.94 billion, a P/E ratio of 22.83, a P/E/G ratio of 5.61 and a beta of 1.10.

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

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.44%.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

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.