KCM Investment Advisors LLC Sells 289 Shares of Illinois Tool Works Inc. $ITW

KCM Investment Advisors LLC lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,844 shares of the industrial products company’s stock after selling 289 shares during the quarter. KCM Investment Advisors LLC’s holdings in Illinois Tool Works were worth $2,187,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ITW. Bank & Trust Co raised its position in shares of 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 valued at $2,526,000 after buying an additional 39 shares in the last quarter. Northcape Wealth Management LLC raised its position in Illinois Tool Works by 2.1% during the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 40 shares in the last quarter. TFG Advisers LLC lifted its stake in Illinois Tool Works by 0.5% during the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after purchasing an additional 42 shares during the last quarter. Freedom Investment Management Inc. boosted its holdings in shares of Illinois Tool Works by 3.0% in the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 42 shares in the last quarter. Finally, Clearstead Trust LLC increased its stake in shares of Illinois Tool Works by 0.9% in the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after purchasing an additional 43 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of the 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 sale, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 0.5%

Shares of ITW opened at $245.47 on Friday. The company has a market capitalization of $71.21 billion, a PE ratio of 23.81, a PEG ratio of 4.10 and a beta of 1.11. The stock’s 50-day moving average price is $255.34 and its two-hundred day moving average price is $252.89. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. 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 issued its quarterly earnings data 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. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the company earned $3.91 earnings per share. The firm’s 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. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

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

Analyst Upgrades and Downgrades

ITW has been the subject of several recent analyst reports. The Goldman Sachs Group set a $258.00 price objective on Illinois Tool Works in a research report on Monday, October 27th. Citigroup increased their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Barclays lifted their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Finally, Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average price target of $262.00.

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.