Quotient Wealth Partners LLC Sells 256 Shares of Illinois Tool Works Inc. $ITW

Quotient Wealth Partners LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 20.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,022 shares of the industrial products company’s stock after selling 256 shares during the period. Quotient Wealth Partners LLC’s holdings in Illinois Tool Works were worth $253,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ITW. Brighton Jones LLC increased its holdings in shares of Illinois Tool Works by 5.3% in the 4th 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 during the last quarter. Bison Wealth LLC grew its holdings in Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares during the last quarter. GAMMA Investing LLC grew its holdings in Illinois Tool Works by 6.7% during the 1st quarter. GAMMA Investing LLC now owns 8,329 shares of the industrial products company’s stock valued at $2,066,000 after purchasing an additional 526 shares during the last quarter. Advisor Resource Council bought a new position in Illinois Tool Works during the 1st quarter valued at about $360,000. Finally, World Equity Group Inc. grew its holdings in Illinois Tool Works by 17.0% during the 1st quarter. World Equity Group Inc. now owns 1,570 shares of the industrial products company’s stock valued at $394,000 after purchasing an additional 228 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other 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 completion of the sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This 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. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ITW. UBS Group upped their price target 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. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Citigroup upped their price target 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. Deutsche Bank Aktiengesellschaft upped their price target 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. Finally, Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $249.46 on Monday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The company has a market capitalization of $72.72 billion, a P/E ratio of 21.86, a P/E/G ratio of 5.52 and a beta of 1.10. The company’s 50-day simple moving average is $260.15 and its two-hundred day simple moving average is $250.93. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is currently 56.44%.

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.