Illinois Tool Works Inc. $ITW Shares Sold by Community Bank N.A.

Community Bank N.A. cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,037 shares of the industrial products company’s stock after selling 445 shares during the quarter. Community Bank N.A.’s holdings in Illinois Tool Works were worth $4,707,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OneAscent Financial Services LLC raised its holdings in shares of Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after acquiring an additional 341 shares during the last quarter. Modern Wealth Management LLC grew its position in 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 valued at $210,000 after acquiring an additional 65 shares during the period. Sowell Financial Services LLC purchased a new stake in Illinois Tool Works during the first quarter valued at about $946,000. Advisory Alpha LLC purchased a new stake in shares of Illinois Tool Works in the first quarter worth about $259,000. Finally, Global X Japan Co. Ltd. boosted its position in shares of Illinois Tool Works by 8.3% in the second quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock worth $624,000 after buying an additional 193 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ITW has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Wells Fargo & Company increased their price target on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. UBS Group increased their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus raised their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating 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 stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and a consensus target price of $262.83.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on Thursday, September 11th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Performance

ITW opened at $244.59 on Tuesday. The firm has a market cap of $71.30 billion, a PE ratio of 21.44, a P/E/G ratio of 5.41 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. The business has a fifty day simple moving average of $260.86 and a 200-day simple moving average of $250.92. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last released 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. The business 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 company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a $1.61 dividend. The ex-dividend date was Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio is currently 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.