Woodmont Investment Counsel LLC Grows Stock Position in Illinois Tool Works Inc. $ITW

Woodmont Investment Counsel LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,805 shares of the industrial products company’s stock after acquiring an additional 44 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Illinois Tool Works were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of ITW. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $26,000. SOA Wealth Advisors LLC. increased its position in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Illinois Tool Works in the first quarter worth $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works in the first quarter valued at $30,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Illinois Tool Works during the first quarter valued at $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Stifel Nicolaus boosted their price objective 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. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. UBS Group boosted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and a consensus price target of $261.58.

Illinois Tool Works Stock Down 0.5%

Shares of ITW opened at $258.76 on Tuesday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company’s fifty day moving average is $261.41 and its two-hundred day moving average is $251.05. The firm has a market cap of $75.43 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 5.75 and a beta of 1.10. 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 (NYSE:ITW) last issued its earnings results 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 return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company posted $2.54 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend 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.