Illinois Tool Works Inc. $ITW Shares Acquired by Canopy Partners LLC

Canopy Partners LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,917 shares of the industrial products company’s stock after acquiring an additional 70 shares during the period. Canopy Partners LLC’s holdings in Illinois Tool Works were worth $721,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Illinois Tool Works by 5.3% during 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 lifted its position in shares of 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 worth $901,000 after buying an additional 81 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $125,000. Sivia Capital Partners LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $214,000. Finally, Wesbanco Bank Inc. lifted its position in shares of Illinois Tool Works by 3.9% during the 1st quarter. Wesbanco Bank Inc. now owns 5,955 shares of the industrial products company’s stock worth $1,477,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays lifted their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft lifted their target price 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. Stifel Nicolaus lifted their target price 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. UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Finally, Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $261.58.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $255.73 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The stock has a market cap of $74.54 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 5.72 and a beta of 1.10. The firm’s fifty day simple moving average is $261.34 and its 200-day simple moving average is $251.08.

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

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $1.61 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is presently 56.44%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s 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 in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by corporate insiders.

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.