Illinois Tool Works Inc. $ITW Shares Sold by Blue Trust Inc.

Blue Trust Inc. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,902 shares of the industrial products company’s stock after selling 78 shares during the period. Blue Trust Inc.’s holdings in Illinois Tool Works were worth $1,954,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bank & Trust Co boosted its holdings in Illinois Tool Works by 0.4% in the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after buying an additional 39 shares during the last quarter. TFG Advisers LLC boosted its holdings in Illinois Tool Works by 0.5% in the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 42 shares during the last quarter. Clearstead Trust LLC boosted its holdings in shares of Illinois Tool Works by 0.9% during the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after purchasing an additional 43 shares during the last quarter. Northern Financial Advisors Inc boosted its holdings in shares of Illinois Tool Works by 1.9% during the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 44 shares during the last quarter. Finally, Woodmont Investment Counsel LLC boosted its holdings in shares of Illinois Tool Works by 2.5% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 44 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ITW. UBS Group boosted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday. Stifel Nicolaus boosted their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $262.83.

Illinois Tool Works Stock Down 1.4%

ITW stock opened at $244.79 on Friday. The firm has a market cap of $71.36 billion, a PE ratio of 21.45, a PEG ratio of 5.49 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The firm’s 50 day moving average price is $261.04 and its 200-day moving average price is $250.97. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

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

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is currently owned by 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.