Vestmark Advisory Solutions Inc. Sells 3,004 Shares of Illinois Tool Works Inc. $ITW

Vestmark Advisory Solutions Inc. reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 50.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,944 shares of the industrial products company’s stock after selling 3,004 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Illinois Tool Works were worth $728,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bryn Mawr Trust Advisors LLC raised its holdings in Illinois Tool Works by 19.6% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 1,710 shares of the industrial products company’s stock worth $423,000 after buying an additional 280 shares during the period. Texas Yale Capital Corp. bought a new stake in Illinois Tool Works in the 2nd quarter valued at $610,000. Modera Wealth Management LLC boosted its stake in Illinois Tool Works by 3.9% in the 2nd quarter. Modera Wealth Management LLC now owns 5,417 shares of the industrial products company’s stock worth $1,339,000 after purchasing an additional 204 shares during the period. Washington Trust Bank increased its holdings in Illinois Tool Works by 25.8% during the 2nd quarter. Washington Trust Bank now owns 2,279 shares of the industrial products company’s stock worth $563,000 after purchasing an additional 468 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its stake in shares of Illinois Tool Works by 5.2% in the 2nd quarter. Achmea Investment Management B.V. now owns 48,013 shares of the industrial products company’s stock valued at $11,871,000 after purchasing an additional 2,357 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ITW shares. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Monday, October 27th. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. The Goldman Sachs Group set a $258.00 price objective on shares of Illinois Tool Works in a report on Monday, October 27th. Finally, Barclays increased their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus price target of $262.00.

Illinois Tool Works Price Performance

NYSE:ITW opened at $245.24 on Wednesday. The stock has a market capitalization of $71.14 billion, a PE ratio of 23.79, a P/E/G ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The firm has a fifty day simple moving average of $254.59 and a 200 day simple moving average of $253.06. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 19.05% and a return on equity of 93.26%. Illinois Tool Works’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the sale, the director owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by corporate insiders.

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.