International Assets Investment Management LLC Sells 66 Shares of Illinois Tool Works Inc. $ITW

International Assets Investment Management LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 4.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,391 shares of the industrial products company’s stock after selling 66 shares during the quarter. International Assets Investment Management LLC’s holdings in Illinois Tool Works were worth $344,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ITW. Auto Owners Insurance Co lifted its holdings in Illinois Tool Works by 55,978.4% in the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock valued at $354,654,000 after acquiring an additional 1,427,450 shares during the period. Nuveen LLC bought a new position in Illinois Tool Works in the first quarter valued at about $293,928,000. JPMorgan Chase & Co. lifted its holdings in Illinois Tool Works by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock valued at $313,734,000 after acquiring an additional 160,009 shares during the period. Citigroup Inc. lifted its holdings in Illinois Tool Works by 50.5% in the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock valued at $92,020,000 after acquiring an additional 124,443 shares during the period. Finally, Aberdeen Group plc lifted its holdings in Illinois Tool Works by 118.7% in the first quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock valued at $54,789,000 after acquiring an additional 121,141 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $253.06 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The stock has a 50-day moving average price of $259.71 and a 200 day moving average price of $251.18. The stock has a market capitalization of $73.77 billion, a P/E ratio of 22.18, a P/E/G ratio of 5.69 and a beta of 1.10.

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

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.61 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is 56.44%.

Analyst Ratings Changes

A number of research analysts have weighed in on ITW shares. Deutsche Bank Aktiengesellschaft increased their target price on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. UBS Group raised their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Barclays raised their price objective on 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. Citigroup raised their price objective on 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, Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and an average price target of $262.83.

About Illinois Tool Works

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.