Great Lakes Retirement Inc. Acquires 391 Shares of Illinois Tool Works Inc. $ITW

Great Lakes Retirement Inc. boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,381 shares of the industrial products company’s stock after buying an additional 391 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Illinois Tool Works were worth $1,587,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. OneAscent Financial Services LLC raised its holdings in Illinois Tool Works by 25.8% in the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after buying an additional 341 shares during the last quarter. Modern Wealth Management LLC raised its holdings in Illinois Tool Works by 8.3% in the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after buying an additional 65 shares during the last quarter. Nordea Investment Management AB raised its holdings in Illinois Tool Works by 9.5% in the 2nd quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock valued at $9,605,000 after buying an additional 3,388 shares during the last quarter. Global X Japan Co. Ltd. raised its holdings in Illinois Tool Works by 8.3% during the 2nd quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock worth $624,000 after purchasing an additional 193 shares during the last quarter. Finally, Advisory Alpha LLC bought a new position in Illinois Tool Works during the 1st quarter worth approximately $259,000. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ITW shares. UBS Group raised their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and an average target price of $262.00.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $244.08 on Friday. The firm has a market capitalization of $70.81 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The firm has a fifty day simple moving average of $257.51 and a two-hundred day simple moving average of $252.28. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s payout ratio is 62.46%.

Insider Buying and Selling

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 transaction of $1,803,074.16. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

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.