Pamela Strobel Sells 1,521 Shares of Illinois Tool Works (NYSE:ITW) Stock

Illinois Tool Works Inc. (NYSE:ITW) Director Pamela Strobel sold 1,521 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Illinois Tool Works Trading Up 0.5%

Illinois Tool Works stock traded up $1.17 during trading hours on Friday, hitting $245.47. The stock had a trading volume of 1,077,198 shares, compared to its average volume of 1,084,056. The stock has a market cap of $71.21 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 4.10 and a beta of 1.11. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The business’s 50 day simple moving average is $255.73 and its 200-day simple moving average is $252.65. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, October 24th. The industrial products company reported $2.81 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 business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the company earned $3.91 EPS. 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, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Hedge Funds Weigh In On Illinois Tool Works

A number of institutional investors have recently modified their holdings of ITW. OneAscent Financial Services LLC raised its position in shares of Illinois Tool Works by 25.8% in the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after purchasing an additional 341 shares during the last quarter. Modern Wealth Management LLC raised its holdings in Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after buying an additional 65 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Illinois Tool Works by 9.5% in the second quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock worth $9,605,000 after buying an additional 3,388 shares in the last quarter. Advisory Alpha LLC purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $259,000. Finally, Global X Japan Co. Ltd. increased its position in shares of Illinois Tool Works by 8.3% during the second quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock valued at $624,000 after acquiring an additional 193 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITW has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. UBS Group lifted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Barclays boosted their price objective on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a report on Monday, October 27th. Finally, Stifel Nicolaus boosted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average target price 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.