Illinois Tool Works Inc. $ITW Shares Sold by OneAscent Family Office LLC

OneAscent Family Office LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 46.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 868 shares of the industrial products company’s stock after selling 760 shares during the quarter. OneAscent Family Office LLC’s holdings in Illinois Tool Works were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after buying an additional 277 shares in the last quarter. Bison Wealth LLC increased its position in Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after purchasing an additional 81 shares during the last quarter. Penserra Capital Management LLC raised its stake in Illinois Tool Works by 426.2% during the first quarter. Penserra Capital Management LLC now owns 3,710 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 3,005 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Illinois Tool Works by 2.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 667,790 shares of the industrial products company’s stock valued at $165,619,000 after purchasing an additional 17,004 shares during the last quarter. Finally, Stratos Investment Management LLC grew its stake in shares of Illinois Tool Works by 41.8% in the 1st quarter. Stratos Investment Management LLC now owns 4,893 shares of the industrial products company’s stock valued at $1,214,000 after buying an additional 1,442 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $245.10 on Thursday. The company has a market cap of $71.10 billion, a P/E ratio of 23.77, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The stock has a 50-day moving average of $256.16 and a two-hundred day moving average of $252.71.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

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

Insider Transactions at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated 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. This trade represents 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. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ITW. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research report on Monday, October 27th. Barclays upped their price target on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Finally, Wells Fargo & Company decreased their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $262.00.

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.