Wealthfront Advisers LLC Raises Stake in Illinois Tool Works Inc. $ITW

Wealthfront Advisers LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,829 shares of the industrial products company’s stock after acquiring an additional 1,859 shares during the quarter. Wealthfront Advisers LLC’s holdings in Illinois Tool Works were worth $9,600,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ITW. Frazier Financial Advisors LLC purchased a new position in Illinois Tool Works in the second quarter worth approximately $25,000. von Borstel & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $26,000. SOA Wealth Advisors LLC. lifted its position in shares of Illinois Tool Works by 90.9% during the 2nd 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 during the last quarter. Saudi Central Bank purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $29,000. Finally, 1248 Management LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $245.91 on Monday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market capitalization of $71.68 billion, a P/E ratio of 23.85, a P/E/G ratio of 5.42 and a beta of 1.10. The company’s fifty day moving average is $259.36 and its two-hundred day moving average is $251.98. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.09. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. Illinois Tool Works’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, sell-side analysts predict 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 was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.6%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is presently 62.46%.

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Truist Financial boosted their price objective on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Finally, UBS Group lifted their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Two investment 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. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average price target 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 business’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

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.