Illinois Tool Works Inc. $ITW Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,685 shares of the industrial products company’s stock after selling 1,553 shares during the quarter. Metis Global Partners LLC’s holdings in Illinois Tool Works were worth $2,395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Frazier Financial Advisors LLC purchased a new position in shares of Illinois Tool Works during the second quarter worth $25,000. SOA Wealth Advisors LLC. raised its stake in shares of Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at about $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works in the first quarter worth about $30,000. Finally, Banque Transatlantique SA acquired a new stake in Illinois Tool Works during the first quarter worth about $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s 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 transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group boosted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Barclays boosted their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research report on Monday, October 27th. Stifel Nicolaus upped their price objective on shares of 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, Truist Financial dropped their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $262.00.

Illinois Tool Works Stock Up 0.5%

ITW opened at $245.47 on Monday. 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 twelve month low of $214.66 and a twelve month high of $279.13. The company has a market cap of $71.21 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The company has a 50-day moving average price of $255.34 and a 200 day moving average price of $253.00.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a $1.61 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 62.46%.

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.