Illinois Tool Works Inc. $ITW Shares Bought by Forum Financial Management LP

Forum Financial Management LP raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 20.0% in the 2nd quarter, Holdings Channel reports. The fund owned 1,861 shares of the industrial products company’s stock after acquiring an additional 310 shares during the period. Forum Financial Management LP’s holdings in Illinois Tool Works were worth $460,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 2nd quarter worth $25,000. von Borstel & Associates Inc. acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth $26,000. SOA Wealth Advisors LLC. lifted its stake in shares of Illinois Tool Works by 90.9% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 50 shares during the period. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works in the first quarter valued at about $29,000. Finally, 1248 Management LLC purchased a new stake in Illinois Tool Works during the first quarter worth about $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity 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 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 directly owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Barclays boosted their target price on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Truist Financial lifted their price target on Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $245.91 on Friday. The company has a market cap of $71.68 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 5.44 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. 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 50-day simple moving average of $259.36 and a 200-day simple moving average of $251.86.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works’s payout ratio is presently 62.46%.

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.