Illinois Tool Works Inc. $ITW Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 11.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,688 shares of the industrial products company’s stock after selling 13,188 shares during the period. Nisa Investment Advisors LLC’s holdings in Illinois Tool Works were worth $25,295,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Bank & Trust Co raised its stake in Illinois Tool Works by 0.4% during the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock valued at $2,526,000 after buying an additional 39 shares in the last quarter. TFG Advisers LLC raised its position in shares of Illinois Tool Works by 0.5% during the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 42 shares in the last quarter. Freedom Investment Management Inc. raised its position in shares of 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 valued at $357,000 after acquiring an additional 42 shares in the last quarter. Clearstead Trust LLC raised its position 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 valued at $1,180,000 after acquiring an additional 43 shares in the last quarter. Finally, Northern Financial Advisors Inc raised its position 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 valued at $582,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $245.91 on Monday. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $71.68 billion, a P/E ratio of 23.85, a PEG ratio of 5.42 and a beta of 1.10. The firm’s 50 day moving average is $259.36 and its two-hundred day moving average is $251.98.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.Illinois Tool Works’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.61 per share. 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 dividend yield of 2.6%. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 62.46%.

Analyst Ratings Changes

A number of brokerages have weighed in on ITW. Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Barclays increased their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Stifel Nicolaus increased their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Finally, Truist Financial increased their price target on Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $262.83.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction on 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.

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.