Quent Capital LLC Purchases 81 Shares of Illinois Tool Works Inc. $ITW

Quent Capital LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 8.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,003 shares of the industrial products company’s stock after purchasing an additional 81 shares during the quarter. Quent Capital LLC’s holdings in Illinois Tool Works were worth $248,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ITW. Auto Owners Insurance Co grew its position in shares of 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 purchasing an additional 1,427,450 shares in the last quarter. Nuveen LLC purchased a new position in shares of Illinois Tool Works in the first quarter valued at $293,928,000. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 160,009 shares in the last quarter. Citigroup Inc. grew its position in shares of 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 purchasing an additional 124,443 shares in the last quarter. Finally, Aberdeen Group plc grew its position in shares of 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 purchasing an additional 121,141 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Down 0.2%

Shares of ITW stock opened at $260.19 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 business has a 50-day moving average price of $261.43 and a two-hundred day moving average price of $251.01. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The firm has a market cap of $75.85 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 5.61 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly 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 analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts anticipate 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 will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.5%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Analysts Set New Price Targets

Several research firms recently issued reports on ITW. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research note on Saturday, September 27th. Truist Financial lowered Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price objective for the company. in a research note on Thursday, July 31st. Citigroup lifted their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company lifted their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $261.58.

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.