AlphaQuest LLC Cuts Stock Position in Illinois Tool Works Inc. $ITW

AlphaQuest LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 50.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,304 shares of the industrial products company’s stock after selling 3,310 shares during the quarter. AlphaQuest LLC’s holdings in Illinois Tool Works were worth $817,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. West Michigan Advisors LLC increased its holdings in Illinois Tool Works by 6.8% during the 2nd quarter. West Michigan Advisors LLC now owns 881 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 56 shares during the period. Turning Point Benefit Group Inc. increased its holdings in Illinois Tool Works by 6.8% during the 2nd quarter. Turning Point Benefit Group Inc. now owns 1,431 shares of the industrial products company’s stock worth $354,000 after purchasing an additional 91 shares during the period. Strategic Blueprint LLC increased its holdings in Illinois Tool Works by 73.7% during the 2nd quarter. Strategic Blueprint LLC now owns 1,945 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 825 shares during the period. Freedom Investment Management Inc. increased its holdings in Illinois Tool Works by 3.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 42 shares during the period. Finally, Forum Financial Management LP increased its holdings in Illinois Tool Works by 20.0% during the 2nd quarter. Forum Financial Management LP now owns 1,861 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 4.5%

Shares of NYSE ITW opened at $245.91 on Monday. The stock has a market cap of $71.68 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 5.42 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The business has a 50-day moving average price of $259.36 and a 200 day moving average price of $251.98.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business’s revenue 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. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.6%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Wall Street Analyst Weigh In

ITW has been the subject of several analyst reports. 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. Citigroup upped their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Barclays upped their price objective 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. Stifel Nicolaus upped their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $262.83.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Company 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.