Mutual Advisors LLC Buys 175 Shares of Illinois Tool Works Inc. $ITW

Mutual Advisors LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,324 shares of the industrial products company’s stock after buying an additional 175 shares during the quarter. Mutual Advisors LLC’s holdings in Illinois Tool Works were worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bank & Trust Co raised its stake in shares of Illinois Tool Works by 0.4% in the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after buying an additional 39 shares during the period. TFG Advisers LLC grew its position in shares of Illinois Tool Works by 0.5% during the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after purchasing an additional 42 shares in the last quarter. Clearstead Trust LLC grew its position in shares of Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after purchasing an additional 43 shares in the last quarter. Northern Financial Advisors Inc grew its position in shares of Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 44 shares in the last quarter. Finally, Woodmont Investment Counsel LLC grew its position in shares of Illinois Tool Works by 2.5% during the second quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction that occurred 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 transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a document filed 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 Price Performance

Shares of Illinois Tool Works stock opened at $249.46 on Monday. The stock has a market cap of $72.72 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 5.52 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock has a 50 day moving average price of $260.15 and a 200-day moving average price of $250.93. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS 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 analysts’ expectations 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities 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 was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a $1.61 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 56.44%.

Analyst Ratings Changes

ITW has been the subject of several research analyst reports. UBS Group increased their target price 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. Wells Fargo & Company increased their target price 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. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Truist Financial raised their price target on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $262.83.

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.