TD Asset Management Inc Lowers Position in Illinois Tool Works Inc. $ITW

TD Asset Management Inc decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 103,265 shares of the industrial products company’s stock after selling 3,153 shares during the period. TD Asset Management Inc’s holdings in Illinois Tool Works were worth $25,532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Illinois Tool Works by 5.3% in the fourth 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 period. Bison Wealth LLC increased its stake in shares of 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 acquiring an additional 81 shares in the last quarter. GAMMA Investing LLC lifted its position in Illinois Tool Works by 6.7% during the 1st quarter. GAMMA Investing LLC now owns 8,329 shares of the industrial products company’s stock valued at $2,066,000 after acquiring an additional 526 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Illinois Tool Works by 84.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 174,983 shares of the industrial products company’s stock worth $43,397,000 after acquiring an additional 79,872 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its holdings in Illinois Tool Works by 18.6% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,646 shares of the industrial products company’s stock worth $905,000 after purchasing an additional 571 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.0%

ITW stock opened at $249.46 on Friday. The stock has a market capitalization of $72.72 billion, a P/E ratio of 21.86, a P/E/G ratio of 5.46 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The business has a fifty day moving average price of $260.15 and a 200-day moving average price of $250.87.

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

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change 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 payout ratio is 56.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ITW. UBS Group boosted 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. Deutsche Bank Aktiengesellschaft boosted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Stifel Nicolaus lifted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Citigroup increased their price objective 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $262.83.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

About Illinois Tool Works

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.