Private Trust Co. NA Raises Holdings in Illinois Tool Works Inc. $ITW

Private Trust Co. NA boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,530 shares of the industrial products company’s stock after buying an additional 70 shares during the quarter. Private Trust Co. NA’s holdings in Illinois Tool Works were worth $873,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Angeles Wealth Management LLC increased its holdings in Illinois Tool Works by 16.6% during the second quarter. Angeles Wealth Management LLC now owns 1,577 shares of the industrial products company’s stock valued at $390,000 after buying an additional 225 shares during the period. Mattson Financial Services LLC purchased a new position in Illinois Tool Works during the second quarter valued at approximately $357,000. Master S Wealth Management Inc. purchased a new position in Illinois Tool Works during the second quarter valued at approximately $242,000. Nordea Investment Management AB increased its holdings in Illinois Tool Works by 9.5% during the second 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 period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Illinois Tool Works in the second quarter valued at approximately $299,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 1.0%

NYSE:ITW opened at $249.46 on Friday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The firm has a fifty day simple moving average of $260.15 and a 200-day simple moving average of $250.85. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $72.72 billion, a P/E ratio of 21.86, a PEG ratio of 5.52 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm posted $2.54 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio is currently 56.44%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ITW shares. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Truist Financial raised their target price on shares of Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Barclays raised their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Finally, Citigroup raised their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target 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.