Tandem Investment Partners LLC Has $579,000 Stake in Illinois Tool Works Inc. $ITW

Tandem Investment Partners LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,341 shares of the industrial products company’s stock after buying an additional 340 shares during the period. Tandem Investment Partners LLC’s holdings in Illinois Tool Works were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works in the first quarter valued at $26,000. SOA Wealth Advisors LLC. increased its holdings 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 purchasing an additional 50 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Illinois Tool Works in the first quarter valued at $29,000. 1248 Management LLC acquired a new position in shares of Illinois Tool Works in the first quarter valued at $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of Illinois Tool Works in the first quarter valued at $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. 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 report on Thursday, July 31st. Stifel Nicolaus boosted 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. Barclays boosted 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. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Finally, Truist Financial cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price for the company. in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $261.58.

Illinois Tool Works Trading Down 0.2%

ITW opened at $260.19 on Friday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company has a 50-day simple moving average of $261.43 and a 200 day simple moving average of $251.01. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $75.85 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 5.61 and a beta of 1.10.

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

Illinois Tool Works Increases Dividend

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

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 transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

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.