Stratos Wealth Advisors LLC Decreases Stock Holdings in Illinois Tool Works Inc. $ITW

Stratos Wealth Advisors LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,780 shares of the industrial products company’s stock after selling 91 shares during the period. Stratos Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ITW. Auto Owners Insurance Co raised its holdings in shares of Illinois Tool Works by 55,978.4% during the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock worth $354,654,000 after acquiring an additional 1,427,450 shares in the last quarter. Nuveen LLC bought a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $293,928,000. JPMorgan Chase & Co. increased its position in shares of Illinois Tool Works by 14.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock valued at $313,734,000 after purchasing an additional 160,009 shares during the last quarter. Citigroup Inc. increased its position in shares of Illinois Tool Works by 50.5% during the 1st quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock valued at $92,020,000 after purchasing an additional 124,443 shares during the last quarter. Finally, Aberdeen Group plc increased its position in shares of Illinois Tool Works by 118.7% during the 1st quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock valued at $54,789,000 after purchasing an additional 121,141 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s 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 sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $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 is available through the SEC website. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ITW has been the topic of several analyst reports. Truist Financial boosted their target price on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on Illinois Tool Works from $235.00 to $250.00 and gave the company 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 company an “underperform” rating in a research report on Tuesday, August 19th. Stifel Nicolaus boosted 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. Finally, 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 report on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Reduce” and an average target price of $262.83.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $249.46 on Monday. The stock’s fifty day moving average is $260.15 and its two-hundred day moving average is $250.93. The company has a market capitalization of $72.72 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 5.52 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 Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion for 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%.The business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current 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 paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works’s payout ratio is currently 56.44%.

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.