Illinois Tool Works Inc. $ITW Stock Holdings Lowered by Circle Wealth Management LLC

Circle Wealth Management LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,136 shares of the industrial products company’s stock after selling 495 shares during the quarter. Circle Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,770,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works during the 1st quarter valued at $26,000. Park Square Financial Group LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $35,000. Olde Wealth Management LLC bought a new stake in Illinois Tool Works in the 1st quarter valued at $49,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Illinois Tool Works by 167.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 132 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on ITW shares. Truist Financial cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price on the stock. in a report on Thursday, July 31st. Wells Fargo & Company upped their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Robert W. Baird lifted their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Citigroup raised their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Finally, Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price for the company. in a report on Wednesday, May 7th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and an average price target of $260.67.

Illinois Tool Works Trading Down 0.4%

Shares of Illinois Tool Works stock opened at $261.0520 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $76.10 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 5.65 and a beta of 1.09. The firm’s 50-day moving average price is $254.99 and its two-hundred day moving average price is $250.25. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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 business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is 52.59%.

Insider Activity

In related news, Director David Byron Smith, Jr. acquired 872 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the transaction, the director directly owned 122,884 shares in the company, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.