Northstar Asset Management Inc. Acquires 125 Shares of Illinois Tool Works Inc. $ITW

Northstar Asset Management Inc. grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,627 shares of the industrial products company’s stock after purchasing an additional 125 shares during the quarter. Northstar Asset Management Inc.’s holdings in Illinois Tool Works were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ITW. Bank & Trust Co boosted its position in Illinois Tool Works by 0.4% in 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 boosted its position in Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 42 shares in the last quarter. Freedom Investment Management Inc. raised its stake in shares of Illinois Tool Works by 3.0% in the second quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 42 shares during the last quarter. Clearstead Trust LLC raised its stake in shares of Illinois Tool Works by 0.9% in the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after acquiring an additional 43 shares during the last quarter. Finally, Northern Financial Advisors Inc raised its stake in shares of Illinois Tool Works by 1.9% in the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Barclays boosted their target price 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. UBS Group boosted their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Truist Financial boosted their target price on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Finally, Citigroup boosted 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. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $262.83.

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Down 4.5%

Shares of NYSE ITW opened at $245.91 on Friday. The stock has a market cap of $71.68 billion, a P/E ratio of 21.55, a P/E/G ratio of 5.70 and a beta of 1.10. The firm has a 50 day moving average price of $259.36 and a 200 day moving average price of $251.63. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week 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, beating analysts’ consensus estimates of $2.72 by $0.09. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter 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 expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a dividend of $1.61 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

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.