Illinois Tool Works Inc. $ITW Shares Sold by Olympiad Research LP

Olympiad Research LP reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 51.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 924 shares of the industrial products company’s stock after selling 964 shares during the quarter. Olympiad Research LP’s holdings in Illinois Tool Works were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’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. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction on 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 transaction, the director owned 39,249 shares in the company, valued at $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Down 0.1%

Illinois Tool Works stock opened at $245.28 on Friday. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The stock has a market capitalization of $71.16 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The firm has a 50 day simple moving average of $253.87 and a 200-day simple moving average of $252.95. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11.

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

Illinois Tool Works Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research report on Monday, October 27th. Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. The Goldman Sachs Group set a $258.00 price objective on shares of Illinois Tool Works in a research note on Monday, October 27th. Finally, 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. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and a consensus target price of $262.00.

Illinois Tool Works Company 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.