Roundview Capital LLC Cuts Stock Holdings in Illinois Tool Works Inc. $ITW

Roundview Capital LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 838 shares of the industrial products company’s stock after selling 49 shares during the period. Roundview Capital LLC’s holdings in Illinois Tool Works were worth $207,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS boosted its holdings in shares of Illinois Tool Works by 0.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 155,685 shares of the industrial products company’s stock worth $38,692,000 after buying an additional 1,400 shares during the last quarter. Seamount Financial Group Inc. boosted its holdings in shares of Illinois Tool Works by 3.4% in the 2nd quarter. Seamount Financial Group Inc. now owns 3,488 shares of the industrial products company’s stock worth $862,000 after buying an additional 114 shares during the last quarter. Mraz Amerine & Associates Inc. purchased a new position in shares of Illinois Tool Works in the 2nd quarter worth about $457,000. Belpointe Asset Management LLC boosted its holdings in shares of Illinois Tool Works by 10.2% in the 2nd quarter. Belpointe Asset Management LLC now owns 3,724 shares of the industrial products company’s stock worth $921,000 after buying an additional 346 shares during the last quarter. Finally, Confluence Wealth Services Inc. boosted its holdings in shares of Illinois Tool Works by 5.3% in the 2nd quarter. Confluence Wealth Services Inc. now owns 4,128 shares of the industrial products company’s stock worth $1,020,000 after buying an additional 207 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 1.1%

Shares of ITW opened at $252.91 on Thursday. The business’s 50-day moving average price is $261.33 and its 200-day moving average price is $251.09. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The stock has a market cap of $73.72 billion, a PE ratio of 22.17, a P/E/G ratio of 5.65 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 (NYSE:ITW) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion for 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 revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.44%.

Analysts Set New Price Targets

Several research firms have commented on ITW. Wells Fargo & Company upped their price objective 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday. Truist Financial upped their price objective on shares of Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Citigroup upped their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price 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.